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This being one of my first posts on Amateur Economists I initially thought I would do an introduction. But then I happened on The Huffington Post article National Review Blogger Terrified Of New Five-Dollar Bill and it got my goat enough to change topics. They quote Mark Krikorian in his blog [...]

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There was once a time long ago when many economies ran on a barter system. There was no fiat money. There was no central banking system. There was no Federal Reserve to insure the validity of any currency. If you wanted a bag of rice you traded with what you grew or produced. As financial [...]

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