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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Tommaso who wrote (90735)1/22/2008 5:55:31 PM
From: pogohere  Read Replies (1) of 110194
 
It took quite a concerted campaign by the European bankers, led by their agent, August Belmont (who was originally named August Schonberg, and became Belmont upon arriving in New York in 1837 after stints in Naples and Havana) the Frankfurt Rothchild's representative, to accomplish the demise of the Greenback.

It was not ever the plan to gradually ease it out of circulation. In fact, the US Treasury had to borrow the gold used to redeem the Greenback from the European bondholders from those very bondholders. Very nifty.

See Alexander Del Mar: "Monetary Crimes," (Washington D.C.: Del Mar Soc., 1899)
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