The Fiat Money System is being severely tested with the current financial crisis. Below is a timeline of the U.S. monetary system, and all the factors that have everyone wondering what will happen next.
1869 – Black Friday, a gold currency panic! Plummeting gold prices led to a panic known as Black Friday, when U.S. President Ulysses S. Grant, after learning of an attempt by Jay Gould and James Fisk to drive up the gold market, ordered $4 million of government gold to be sold on the market.
Sources:
https://www.scottcountyhistory.org/blog/black-friday-a-little-history
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