From Cash To Trash, Rinse And Repeat

From Cash To Trash, Rinse And Repeat Authored by Frank Giustra, The Continental dollar, born in 1775, was meant to finance the colonies’ fight against Britain—the American Revolution. What it actually financed was a masterclass in how quickly a currency can evaporate when it has no anchor, no credible backing, and no one willing to stop the printing presses. Hundreds of millions of Continental notes were issued with nothing but the promise of future redemption in gold or silver—which the colonies did not possess in sufficient quantity.  As wartime expenses mounted and the conflict dragged on, the colonies’ solution was a time-honored tactic. Just dig yourself a deeper financial hole by printing more currency. When...