Can you explain the historic cautionary tale of the Continental currency and why the American founding fathers embedded gold protections into the Constitution?

Jason Cozens
Replied byJason Cozens

Founder & CEO at Glint Pay

Niche: Finance
Revenue: Approx. USD 350,000/month
Location: London, England, United Kingdom
Started: 2015

During the American Revolutionary War, the colonies issued a fiat currency called the Continental, which rapidly suffered catastrophic hyperinflation. It nearly bankrupted the revolutionary war effort because the military could not pay soldiers or secure supply chains. Having witnessed fiat currency almost extinguish the nation at its birth, the founding fathers created a constitutional clause specifically empowering states to utilize sound money, ensuring future generations would have an emergency hedge against currency collapse.

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