History of the US dollar.
Colonial America:
1: Illegal to import British coinage.
2: Illegal to mint coins themselves.
3: Primary coin becomes the imported Spanish Dollar.
4: Colonists unable to effectively do commerce without enough good quality money, heavily relying on paper money and foreign coins.
5: British taxes add extra economic stress towards a disenfranchised people who don't have any representation or enough good money...
REVOLUTION!!!
New country, new rules:
1: The USA can mint it's own money.
2: Establishes rules for what defines a dollar, the states are only allowed to make Gold and Silver into money not promissory notes.
3: The Treasury and the US Mint are established.
1800s America:
1: Anyone can bring silver to the US mint and have it made into new silver dollars, causing concerns of inflation.
2: Lots of Silver US Mint Dollars in circulation.
3: Government prints emergency "green back(s)" promissory notes to fund Civil War with fiat.
4: Several states, especially on the West Coast, do not accept the Greenbacks.
5: Greenbacks devalue against Silver Dollars, circulating Silver Dollars outnumber circulating Greenbacks, the country defaults back to Silver Coinage who's face value is backed by their silver content and the stronger Gold Coins.
6: Problems with bank failures due to fractional reserve banking.
Early to mid 1900s America:
1: 1913. Federal Reserve established to address problem of unstable banking system, caused by dishonest banking practices, forcing the entire country to participate in a system that runs on bad banking practices.
2: New Greenbacks, called Federal Reserve Notes, are printed backed by Gold and Debt to pay back Gold, to support WW1.
3: 1918. The Pittman act authorizes the melting of nearly half of all Morgan Silver Dollars in circulation (270,000,000), to send to Britain in support of the war effort. Replacing those Silver Dollars with "Emergency issue" Federal Reserve notes. Shifting the balance of circulating Silver Dollars and Paper Dollars.
4: New Silver Dollars are minted to replace the melted ones, most of them are Peace Dollars. Total number of circulating Silver Dollars hasn't grown relative to population in over 25 years. Constant growth of paper dollars in circulation.
5: 1929. Too much funny business in money and markets causes the great depression.
6: 1933. An over leveraged monetary system cannot support $20.67/Oz of Gold, executive order #6102 makes private Gold ownership illegal.
7: 1934. A re-evaluation of the Dollar to $35/Oz of Gold. Final 90% Silver Dollars minted for circulation. Only Federal Reserve Note Dollars issued from now on.
8: WW2 leads to high rate of issuance of new Federal Reserve Notes and foreign allies deposit their Gold with the US Treasury for safe keeping.
9: 1945. Bretton Woods establishes the US Dollar as the world's reserve currency, backed by gold.
10: Paper dollars now the dominant circulating currency units, relative to a smaller circulating Silver Dollar supply. With coinage relegated to change for paper dollars.
Late 1900s America:
1: 1955. Foreign nations begin redeeming their US dollars for gold.
2: 1965. Over supply of paper dollars relative to gold and silver supply means silver becomes too expensive to use to make coins, and the US Mint begins counterfeiting it's own coinage, switching new circulating coins to copper with the same design.
3: 1970. Too much gold is being withdrawn, the system is threatened with collapse if the US runs out of Gold.
4: 1971. To stop total dollar collapse, the link between the US dollar and Gold is severed by Nixon.
5: The US Dollar is now 100% fiat. Nothing but paper dollars, and copper coinage.
6: The decoupling of face values between Silver Coins and Paper Bills occurs like in the 1800s, but this time the Silver coins have all been removed from circulation and Greenbacks greatly outnumber them, causing people to see the silver coins as gaining value when in reality it is the paper and copper dollar losing value.
7: The constant devaluation of the dollar raises the cost of living faster than people can overcome those rising costs.
8: 1985. US Mint relaunches a $1 Silver coin in the American Silver eagle for those who want then, marked as 1 Oz of Silver. Not intended for circulation as it cannot compete with the new worthless money that dominates.
2000s America:
1: The economy is constantly struggling to overcome dollar debasement. Corrupted money corrupts Government and corporations. The line between corporations and government blurs. Seeking real value creation for people is replaced by seeking ever more paper dollars for the bottom line.
2: The struggle for financial dominance of a constantly weakening financial system leads to an over focus on controlling the money of the population. Increased fighting to control the seat of money creation (Government).
3: Decades of devaluation, and an unstable Government antagonizing other nations, leads to reductions of other nations trusting the stability of the US Dollar which they begin to dump for Gold.
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The Future of Money is yet to be determined, everyday we make decisions of which money we support. Take responsibility for your own part of our financial system. Support freedom by supporting financial independence on top of sovereign money.
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