SIMPLE SOLUTION TO THE DEBT CEILING (Bill Still)

The U.S. economy is today based on the Federal Reserve Note – commonly known as the dollar. The physical bills look like this with the legend Federal Reserve Note across the top. This is an image of a 1928 Federal Reserve Note, the first one was printed in 1914.

But did you know that there is a form of U.S. paper money that has been legal tender for much longer than the Federal Reserve Note? It’s called the United States Note. They became legal tender in 1862, and they are still legal tender today, 161 years later.

What’s the difference between the Federal Reserve Note and the United States Note? The Federal Reserve Note is actually backed by interest-bearing government debt, while the U.S. Note was issued interest free.

Also notice that every Federal Reserve Note from at least 1928 onwards has a green seal to the right of the center portrait of the bill. The U.S. Notes have a red seal. So, if you see a U.S. bill with a red seal don’t spend it! Save it because it is worth 5 to 10 times the face value to collectors.



[Posted at the SpookyWeather2 blog, January 20, 2023.]