The paper money or currency in the united states essentially represents a debt of the Federal Reserve System.
The United States dollar (icon: $; code: USD) is the national currency of the United States and a number of other countries. The Coinage Act of 1792 allowed the minting of coins bearing dollar and cent valuations and put the United States dollar on level with the Spanish silver dollar. It also divided the dollar into 100 cents. The type of U.S. currencies that are issued are Federal Reserve Notes, also known as "greenbacks" because to their mostly green colour. The Federal Reserve System, that acts as the nation's central bank, is in charge of overseeing monetary policy in the US.
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