how is a new currency rolled out
My question is not related to how the fed puts paper money in circulation and replaces paper money etc.. It is more about how does such a system get set up in the first place.
When the first USD notes were printed, I would imagine hundreds of years ago, how did they end up in the hands of citizens. Did the gov issue bonds to the fed at that time, and the fed gave the gov currency in return and then the gov used that money to make purchases thus putting into circulation?
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