For example, one tenant of "REDEMPTION" theory suggests that the United States has been bankrupt since suspending the GOLD STANDARDS in 1933, and that, as a result, the dollar is nonredeemable. Citizens thus became creditors for a bankrupt system, and the Federal Reserve Note became a debt note with no intrinsic value—or so the story goes.

 

For example, one tenant of "REDEMPTION" theory suggests that the United States has been bankrupt since suspending the GOLD STANDARDS in 1933, and that, as a result, the dollar is nonredeemable. Citizens thus became creditors for a bankrupt system, and the Federal Reserve Note became a debt note with no intrinsic value—or so the story goes.