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Reply #50: you have it all backward - the Treasury prints our money and sells it to the Fed [View All]

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banned from Kos Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-14-11 11:33 AM
Response to Reply #33
50. you have it all backward - the Treasury prints our money and sells it to the Fed
for .04c a note over the face value.

"Federal Reserve Notes are printed by the Bureau of Engraving and Printing (BEP), a bureau of the Department of the Treasury.<8> The Federal Reserve Banks pay the BEP not only the cost of printing the notes (about 4¢ a note), but to circulate the note as new currency rather than merely replacing worn notes, they must pledge collateral for the face value, primarily in Federal securities." (Wikipedia)

The Fed pays the Treasury (taxpayers) interest. In 2010 over $78 billion.

http://latimesblogs.latimes.com/money_co/2011/01/federal-reserve-2010-record-profit-financial-crisis-intervention.html

And F-to-F is an uber Ron Paul video.

A complete whiff on your part.
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