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<p>[QUOTE=&quot;Cloudsweeper99, post: 1206777, member: 3011&quot;]The comparison is irrelevant to today&#039;s situation.&nbsp; The old greenbacks were debt because there was a promise to eventually redeem them.&nbsp; If they were reissued today, there would most likely be no redemption - they would just be money and would eliminate the need for the federal government to issue debt securities [i.e., debt-free money].&nbsp; Of course they would be inflationary if over-issued, just like every other form of currency including gold.&nbsp; As long as US Notes were declared valid for payment of taxes equal to FRNs, they would have equal value.&nbsp; And regarding political control, this is something the people would have to decide.&nbsp; Is it easier and more desirable to have a huge national debt and a currency controlled by an unaccountable Federal Reserve; or is it more desirable to have no debt and a currency controlled by a political class that must stand for election?[/QUOTE]</p><p><br /></p>

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