Not exactly, a FRN is not redeemable in anything. A silver contract is in actual fact redeemable in silver. Or maybe more accurately it could be considered a form of fractional reserve banking, but not the type we have in place.
Not exactly, a FRN is not redeemable in anything. A silver contract is in actual fact redeemable in silver. Or maybe more accurately it could be considered a form of fractional reserve banking, but not the type we have in place.