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  • Short-Term Euro To Break Out Higher, Then It's Time To Short [View article]
    Thanks for that.. it was changed.
    Sep 16 11:37 AM | Likes Like |Link to Comment
  • The Fallacy Of State-Backed Deposits [View article]
    The bureau of engraving and printing prints physical currency (about 800 billion in circulation) on behalf of the Federal Reserve (as requested), hence the reason if you look on a dollar bill it says "Federal Reserve Note" :

    Currently, the US government maintains over 800 billion US dollars in cash money (primarily Federal Reserve Notes) in circulation.[46][47] The amount of cash in circulation is increased (or decreased) by the actions of the Federal Reserve System. Eight times a year, the 12-person Federal Open Market Committee meet to determine US monetary policy.[48] Every business day, the Federal Reserve System engages in Open market operations to carry out that monetary policy.[49] If the Federal Reserve desires to increase the money supply, it will buy securities (such as US Treasury Bonds) anonymously[citation needed] from banks in exchange for dollars. Conversely, it will sell securities to the banks in exchange for dollars, to take dollars out of circulation.[50]
    http://bit.ly/QlxYt7

    However, the Federal Reserve is the sole source of money supply (M0,M1) as the central bank, as determined by the Federal Open Market Committee. This includes the purchase and sale of US treasury debt, issued by the US Treasury.

    http://bit.ly/Oy2xyy

    http://bit.ly/Oy2xyB

    Further reading.. The authority of the Federal Reserve Banks to issue notes comes from the Federal Reserve Act of 1913. Legally, they are liabilities of the Federal Reserve Banks and obligations of the United States government. Although not issued by the Treasury Department, Federal Reserve Notes carry the (engraved) signature of the Treasurer of the United States and the United States Secretary of the Treasury.
    Jun 27 03:19 PM | Likes Like |Link to Comment
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