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Everything in this ad from the Federal Deposit Insurance Corporation appears to be factually accurate. But look a bit more carefully at that $100,000 bill. Notice two, important things about it. First, it is a United States Note, i.e., issued by the Treasury of the United States. Not a Federal Reserve Note, i.e., issued by the Federal Reserve Bank. Second, that it is redeemable in gold.
Why are these so important? Look at the — equally accurate — chart below and you will, as Paul Harvey used to say, “know the rest of the story.”
