Today most Americans have accepted the devaluation of the U.S. dollar as commonplace. They believe it is just a consequence of having paper currency. However, this is far from the case. Devaluation only occurs when fiat currency, money which is only backed by a government, is used. The first national currency was created in 1861 [...]
Filed under: Constitution, Economics, Fiat Currency, Gold Standard, Politics | 4 Comments »
