- Banned
- #21
1913...Under the foolhardy guidance of progressive avatar Woodrow Wilson.When did the Fed start printing money?
No, that is when the Fed was created. When did the Fed start printing money?
A History of Paper Money - Using US Money From 1913 To Date1914: $1 Federal Reserve Bank Note
At the time this was issued, a "note" was well understood to be a promise of payment. Accordingly, this is prominently labelled as a "Federal Reserve Bank Note".
And what is this Note redeemable in? Here's what it says: "Secured By United States Certificates Of Indebtedness Or One-Year Gold Notes, Deposited With The Treasurer Of The United States Of America". The Note was directly redeemable in Treasury debt, but it was not directly redeemable in Gold.