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Commodity-Based Money (Gold, Oil) is Undesirable [Eurodollar University, Ep. 230]

Eurodollar University

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Gold and Silver Coin, Federal Reserve Notes, Bank Notes

Jeffrey Toobin: By the time we got to the demonitization and confiscation of gold, it wasn't that important. So i'm going to read out some numbers. And the federal reserve reported that its member banks held 730 million dollars worth of cash. Now, if bretonwood street shut anything like that come about. Butas any highly liquid hand to hand currency that the government deemed acceptable at that time, that satisfied reserve requirements, was deemed 'vault cash'

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