4 ms·
> The 1920's gilded age was fueled by fiat money, the greenback. So-called fiat money didn't become a thing until after FDR became president, which was after 1
by throw0101d 4mo ago
> The 1920's gilded age was fueled by fiat money, the greenback.
So-called fiat money didn't become a thing until after FDR became president, which was after 1932.
- nighthawk454 4mo ago> Greenbacks … a form of fiat money https://en.wikipedia.org/wiki/Greenback_(1860s_money) https://en.wikipedia.org/wiki/Greenback_(1860s_money)
- SJC_Hacker 4mo agoThis was a wartime measure. The US went back to a hard money system soon after the civil war ended
- Noaidi 4mo agoI think at this point you should read a bit more about the antebellum period.