Just looking at the 100,000,000,000,000 note there are the words, “I promise to pay the bearer on demand one hundred trillion dollars.” Of course the promise was never going to be kept, but that’s not the point. The promise was on the note.
Our money used to say things like, “This certifies that there is on deposit in the Treasury of the United States, one dollar, in silver payable to the bearer on demand.” or on Federal Reserve Notes, “This note can be redeemed in lawful money at any Federal Reserve Bank.”
Now our money just says “One dollar” and that’s it. Oh and it’s legal tender for all debts public and private. No promise or guarantee of anything, One dollar, Five dollars, etc.
100%