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The Goldback is a fractional gold commodity marketed as a local currency which has seen limited use in some U.S. states, and sold and marketed by Goldback, Inc. of Utah. The Goldback contains a thin layer of gold within a polymer coating equivalent to 1/1000 of an ounce.
During the 19th century there was a great deal of scholarly debate and political controversy regarding the use of bimetallism in place of a gold standard or silver standard (monometallism). [5] [6] Bimetallism was intended to increase the supply of money, stabilize prices, and facilitate setting exchange rates. [7]
It continued to operate during the presidential transition on private bank loans at rates up to 12 percent, with some banks asking as much as 36. [5] Salmon P. Chase , as the Treasury secretary of the incoming Lincoln administration, found the banks more receptive but struggled to keep enough coins in the Treasury to meet expenditures.
In 1862, Abraham Lincoln created the Greenbacks, a currency of free money issued by the United States of America between 1861 and 1865. The currency was not based in gold and was not created by private banks.
The political world has diluted the meanings of words and phrases so effectively (and, in some cases, done a full gaslight on phrases like “fake news”) that it has blunted the impact of some ...
A $5 United States Note of the series of 1862 popularly known as a "greenback" from the color of ink used on the reverse. The American Civil War of 1861 to 1865 greatly affected the financial system of the United States of America, creating vast new war-related expenditures while disrupting the flow of tax revenue from the Southern United States, organized as the Confederate States of America.
Jerome Powell, the unflappable Federal Reserve chair, would never march into a press conference, declare victory over inflation and drop the mic while giving a middle finger to his haters. That ...
Street money (also called walking-around money [1] [2]) is an American political tactic where local party officials are given legal cash handouts by an electoral candidate's campaign in exchange for the officials' support in turning out voters on election day.