Whats a Federal Reserve Note? A worthless promissory notes

Why people called them dollars? Because they have been lied. A real dollar is not paper currency, but hard money: a fixed weight of gold and silver. This is where the word “peso” comes from, peso is the Spanish word for weight.

According to the coinage act of 1792 a US dollar is 24.8 grains of gold, or 371.25 grains of silver.

Today you’ll need $166,72 Federal Reserve Notes to buy a real gold dollar. This is the equivalent of a 99,994% lost in the purchasing power of a FRN agains a real gold dollar according to the actual price of $3227 FRNs for one troy ounce.