I wrote a post discussing the full faith and credit of the United States dollar compared to the value of Bitcoin. However, I want to add a comparison of the value of the dollar to another currency.
As many of you are certainly aware, the United States Congress was dissolved on October 12, 1859 by order of Emperor Norton. In addition to abolishing the United States Congress and winning a war against the reincarnation of George Washington, Emperor Norton also issued money. As a testament to his benevolence, he offered a one-to-one exchange rate between United States dollars and his currency. During some unrelated research into the glorious reign of Emperor Norton, I came across a 2018 auction for one of his $0.50 bills issued on August 1, 1878 that sold for $10,500.
In 1878 the exchange rate between United States dollars and Emperor Norton’s script was one to one. In 2018 the exchange rate was $21,000 to one.
Once I again I can only conclude that the full faith and credit of the United States isn’t worth what it used to be. On the other hand, the full faith and credit of Emperor North has skyrocketed, which is yet another sign of his legitimacy.
All hail, Emperor Norton! May he reign forever!