But fiat bills (not redeemable in silver) first appeared in '63. i saw my first fiat greenback in study hall about 25 minutes before the PA blared that Kennedy had been shot. Fiat coinage came in '64. It was '71 when the rest of the world was told $$ were no longer redeemable. May be mistaken; but recollection is that Nixon also imposed wage & price controls at that time.
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Date: 2006-05-03 10:46 pm (UTC)