US Treasury : Federal Notes have no Value for themselves

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From the Archives : Originally published June 26th, 2009
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Category : Fundamental





Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything.


This has been the case since 1933.


The notes have no value for themselves, but for what they will buy.



US Treasury Website

http://www.treas.gov/education/faq/currency/l...&IMAGE.Y=10






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