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Content preview from jpkoning.blogspot.al: Friday, October 27, 2017 The evolution of the Federal Reserve's promises as recorded on their banknotes Since they began to be produced in 1914, Federal Reserve notes have always had a promise or obligation printed on their face. But over time this promise has changed. I thought it would be fun to go through the evolution of the promise as an exercise in understanding how the U.S.'s monetary plumbing has changed. The original 1914 series of Federal Reserve notes had the above sti

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