Recently, I have been asking friends and even strangers to take a one question quiz. I pull a bill out of my wallet and ask: "What is this?" The reply is always said as a question: "A one dollar bill?" or "A twenty dollar bill?". I then go on to point out the words "Federal Reserve Note." "That's what it is," I tell them -- a federal reserve note." I go on to explain my understanding of what the Federal Reserve is and is not. People are invariably amazed at what I have to say, especially when they realize that the mysterious phrase is right on the bill.
The document "What Is a Dollar?" by Edwin Vieira is the most instructive and readable document on the subject I have yet seen. Here you will find a most interesting history of the dollar. And you will begin to see the rooking of the American people which has occurred. The article is not extremely lengthy. It explains terms as it goes along. I highly recommend it to you.
http://home.hiwaay.net/~becraft/WhatIsDollar.pdf
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