Greenback? (1 Viewer)

[want2beSMART]

all these economic terminology is causing massive headspin

does anyone know the true meaning of "greenback"?

 

[absolution*]

So you want to be smart?

Try using GOOGLE. Its the new revolution.

Greenback: A slang term for American paper dollars.

Greenbacks got their name from their color; however, in the mid-1800s "greenback" was a negative term. During this time, the Continental Congress did not have taxing authority. As a result the greenbacks did not have a secure financial backing and banks were reluctant to give customers the full value of the dollar.

 

[want2beSMART]

so greenback is slang for the US dollars?

what is the Continental Congress?

 

[want2beSMART]

hmm so complex...

is that necessary in economics?

 

[Airazer]

greenback is US dollars. i personally like to call my twenties and fifties Orangebacks and Yellowbacks in my eco essays. works every time!

 

[want2beSMART]

errr okay

man look at the date of the post