1 / 8

Money

Money . Paige Riley. What is the Greenback dollar. CASH!!. History . Circulation of foreign coins and competing state currency Lincoln administration attempting to united the country! Due to the war the government had no taxing ability There for money was printed that was not backed.

lori
Download Presentation

Money

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Money Paige Riley

  2. What is the Greenback dollar CASH!!

  3. History • Circulation of foreign coins and competing state currency • Lincoln administration attempting to united the country! • Due to the war the government had no taxing ability • There for money was printed that was not backed. • In 1860’s the US printed $400 million to fund a war against itself • The value of these notes fluctuated based on the Union’s successes and failures during the civil war.

  4. Fiat money Fiat is a latin word meaning “let it be done” “Currency the a government has declared to be legal tender despite the fact that it has no intrinsic value and and is not backed by reserves. ”

  5. Characteristics of Fiat money • Faith based money declared tender legal by the government • No Intrinsic Value- there is no value or security held within the item itself • High risk of becoming worthless due to inflation • Most countries use fiat money the US dollar and the euro are both fiat.

  6. Nixon shock • After the Vietnam War the US was in a bit of economic pickle • The gold coverage of the US dollar decreased from 55% to 22% • Dollar was losing its value on the global marked as well • Nixon cancelled the the direct convertibility of the US dollar to gold • This later led to the collapse of the Bretton Woods system • UN agreement that established how value of global funds would be measured…by gold

  7. Rothschild Family • A European family that began in the late 1500’s Izaak Rothschild • Established European banking and finance houses in the 1700’s • The family was elevated to nobility in the 1800’s • Created a financial empire throughout Europe • Considered the pioneers of international banking DYNASTY

  8. Conspiracy • Control the worlds wealth? • Started wars? • Illuminati? • Hand picked presidents?

More Related