Oddball
Unobtanium Member
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.