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AussieG · 01-09-2009, 01:01 PM

It is my understanding that USA had its own monetary system call the green back where the government minted the money and guaranteeing it with bonds, was able to loan it out at interest that interest was then used use for capital investment. Through a slight of hand on 24 Dec Congress signed over to the Central Bank the right to print money and subsequent outlawing of the green back.

Whats wrong with going back to the green back?

01-09-2009, 01:01 PM	#23
AussieG Avalon Senior Member Join Date: Sep 2008 Location: Melbourne Australia Posts: 187	Re: You Must Choose Soon part 2 It is my understanding that USA had its own monetary system call the green back where the government minted the money and guaranteeing it with bonds, was able to loan it out at interest that interest was then used use for capital investment. Through a slight of hand on 24 Dec Congress signed over to the Central Bank the right to print money and subsequent outlawing of the green back. Whats wrong with going back to the green back?