1957 Silver Certificate: (One Dollar in Silver Payable To The Bearer On Demand):
Once a government has introduced paper currency, they then expand the currency supply through deficit spending, printing even more of the currency to cover that spending ….. Then, usually due to war or some other national emergency, like foreign governments or the local population trying to redeem their demand notes (bank runs) the government will suspend redemption rights because they don't have enough gold and silver to cover all the paper they have printed, and poof! You have fiat currency."
Modern day Federal Reserve Note: (Paper & Ink:
- Michael Maloney from GoldSilver.com