Econ Coursework

Running head : ECONOMIC COURSEWORKEconomic CourseworkIn APA StyleNameSchoolThe Constitution and the Original monetary Act of 1792 mandates that gold and bills coins atomic number 18 the hard up-to-dateness system and requires a constitutional amendment to change the standard . It appears than non bind yet to have be enacted , and so the Original fiscal Act of 1792 still stands . The Federal apply Notes (U .S . Dollar Bills ) are currently not backed by gold nor silver .

The power holding up these sheets of silver is the phrase heavy tender on the face of the note and the fact that the presidency and banks validate and accepts it as a source of value What this heart and soul is that a dollar bill is really not a dollar , but a piece of or debt money which creates the Federal Reserve Note Another point price considering is that the Federal Reserve is a private institution and has no real connection to the US Government as is frequently believed . The Federal Reserve is a department that prints money and use to be tied to the gold held at Fort Knox , at once however , it is backed up by nothing . It is and so , a fallacy to gestate that a Federal Reserve Note is a dollar it may be a dollar bill - but it is definitely not a dollar according to the gold and silver standardKnowing this , it is reasonable to assume that the reason we are all still accepting exchanging and treating the dollar...If you deprivation to get a full essay, order it on our website: Ordercustompaper.com

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