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Old November 22nd 03, 05:17 PM
Steve Okonski
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Nick Charles wrote:

JFK vs. The Federal Reserve

Kennedy knew that if the silver-backed United States Notes were widely
circulated, they would have eliminated the demand for Federal Reserve
Notes. This is a very simple matter of economics. The USN was backed
by silver and the FRN was not backed by anything of instrinsic value.


Umm, one problem is this is backwards. Currency of lesser perceived
value circulates before currency of greater value. See Gresham's Law.
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