Comment: Franklin's paper money...

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Franklin's paper money...

was not fiat. His idea was to back the paper with land (mortgage security) and it was not to be issued by a monopoly central bank. Also, Franklin's reasoning was based on the fact that Britain was manipulating and hording the gold supply through legal and physical coercion even going so far as to demand that gold and silver not be used for market transactions.

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~wobbles but doesn't fall down~