By: Handini
A little over a week ago the S&P downgraded the credit rating of the United States. Many people are complaining about the Federal Reserve System as it is unconstitutional and having a fiat form of money as unscriptural. Although all currency of the United States from 1861 to the present is still legal tender and therefore not included as subject matters of this blog, will they eventually become obsolete? Will the Federal Reserve Banks go under just as a lot of banks did during the Civil War?
THE FIRST BANK TO FAIL IN THE UNITED STATES
$3 Farmers Exchange Bank, Gloucester, RI (1806)
Durand 452
Haxby RI-120-G10
Image Contribution: Handini
WILL THIS BE THE LAST BANK TO FAIL IN THE UNITED STATES?
A Fake 1 Trillion Dollar Note
Image Contribution: Handini
Note that the 0's following the 1 in the denomination does not match with the denomination of this note - just as how the government does not know how to apply math to correct their own finances.
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