In the evil year of 1690, in the month of December, the Colony of Mass. issued the first government paper (paper money) in the Western World to their soldiers who had been sent in a military raid against the French Quebecers - the Mass. soldiers lost and went home. They demanded their pay and so Mass. gov't issued them paper money. Within 2 months the value of their government paper had nose-dived and soon the gov't was issuing laws requiring people to accept the paper money at the value the government declared instead of the market value. This was the evil beginning of paper money in America and the Western World. Notice it happened in Mass. Notice it was an Ulster-Scotsman and Southron (albeit one who had many faults) who once defeated the central bank, and notice how even the very first yankee central bank was connected intimately with imperialist aggression. Notice a trend? Check out this video at about 10 minutes or so... but the whole thing is brilliant. The Yankees, their paper money and imperialism. Tell me, folks - are they not bound together?
'The Gold Standard Before the Civil War'
http://www.youtube.com/watch?v=Wfyp_i7y1t0
