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<p>[QUOTE=&quot;kevin McGonigal, post: 2374815, member: 72790&quot;]Germany&#039;s paper currency, the system established in 1871 with the creation of the Second Reich under Bismarck lasted until just after WWI, The French franc of the Third Republic from its post Franco Prussian War establishment until the outbreak of WW II. Neither an insignificant country or period of time. US paper currency, except for very small emissions in the War of 1812 and the Mexican War, is a creation of the US Civil War and its original Greenbacks were a fiat currency which at one point in that war plummeted to about 40 cents on the gold dollar and did not reach par with the gold dollar until they were withdrawn from circulation after the war. The various other forms of early US paper, National bank Notes, Coin Notes, silver and gold certificate were convertible to specie on demand. After gold redemption was made illegal (within the US, not abroad) US paper could still be exchanged for silver bullion into the mid 1960&#039;s. So with the withdraw of all other notes, except for the federal reserve notes, our currency has been a fiat currency actually for less than 50 years. How does this compare in longevity with the Pre inflationary German mark or the WWII French Franc?[/QUOTE]</p><p><br /></p>

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