assignat

アッシニア　—　Names of money

The paper money issued during the French Revolution.

Assignat of 5 livres (national lands)1789–96 Assignat of 400 livres1792 Assignat of 50 sols1793

⚠ These were issued with confiscated land as backing. Although intended to be secured by the tangible asset of land, the backing became meaningless the moment the amount issued exceeded the land's value.

It is not true that "banknotes are safe as long as they are backed by something." It is more effective to ensure the issuance does not exceed the value of the backing.