| The greenbacks were legal tender notes issued at par with notes backed by specie. |
| What's more, risk-averse investors in the U.S. Treasury market are more prone to hedge their exposure to the dollar by selling greenbacks. |
| It was successful initially and the economy grew quickly, as investors deemed dealing in greenbacks a safer bet. |
| As the currency started to slip in May, companies with future-debt obligations denominated in dollars rushed to buy greenbacks. |
| For months now, they've been trading in their pesos for greenbacks and stuffing them under their mattresses or spiriting their money overseas. |
| Once outlawed as the currency of imperialism, greenbacks suddenly became not just accepted but necessary. |
