quote:

ORIGINAL: MrRodgers
One wonders how it is that we seem to be as advanced a society as most commentators suggest. History refutes the assumption of mans' inevitable ascendancy at least sociologically. Here's one reason.....
One of the most telling of those refutations is the idea it seems still prevalent on forums, general discussions and even in some really ignorant members of the financial class and congress...that the US is printing money. We cannot escape the meaning of words. To siggest that the US is 'printing' money, that means actually printing up currency. Ok, we all set now ?
Yet, I suggest people please take hold...another way of saying get a fucking grip. The US is NOT PRINTING MONEY.
I wonder if anybody grasps this concept ? I wonder how it is that this idea has sunk in. Does anyone grasp that if that were true what the actual physical limitations are for actually doing that ?
Please explain people how it is I still hear and read and here too of course and inspired this OP...that the US is printing money.
NOTE: Let's assume for arguments sake that the printing presses are going like mad...printing money. Understand the requirements. Now do you still think the US is printing money ?

quote:

The mission of the Bureau of Engraving and Printing (BEP) is to develop and produce United States currency notes, trusted worldwide. As its primary function, the BEP prints billions of dollars - referred to as Federal Reserve Notes - each year for delivery to the Federal Reserve System. The Federal Reserve operates as the nation's central bank and serves to ensure that adequate amounts of currency and coin are in circulation. The BEP does not produce coins - all U.S. coinage is minted by the United States Mint.

The BEP also advises other Federal agencies on document security matters. In addition, the BEP processes claims for the redemption of mutilated currency. The BEP's research and development efforts focus on the continued use of automation in the production process and counterfeit deterrent technologies for use in security documents, especially United States currency.

quote:

ORIGINAL: mnottertail

It is not?  When did they stop?

quote:

ORIGINAL: Zonie63

FR

I didn't realize this before, but the web address for the Bureau of Engraving and Printing is "moneyfactory.gov":

http://www.moneyfactory.gov/aboutthebep.html

quote:

The mission of the Bureau of Engraving and Printing (BEP) is to develop and produce United States currency notes, trusted worldwide. As its primary function, the BEP prints billions of dollars - referred to as Federal Reserve Notes - each year for delivery to the Federal Reserve System. The Federal Reserve operates as the nation's central bank and serves to ensure that adequate amounts of currency and coin are in circulation. The BEP does not produce coins - all U.S. coinage is minted by the United States Mint.

The BEP also advises other Federal agencies on document security matters. In addition, the BEP processes claims for the redemption of mutilated currency. The BEP's research and development efforts focus on the continued use of automation in the production process and counterfeit deterrent technologies for use in security documents, especially United States currency.

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: mnottertail
It is not?  When did they stop?

The US treasury only prints money to replace worn out money.

quote:

ORIGINAL: Yachtie

Mr. R, many people lump digital debt expansion under the euphemism of printing money. Most people understand what is being meant and need not read, say, 1023 added pages explaining what is meant by saying that.

Just saying. [:D]

quote:

ORIGINAL: MrRodgers
Well you are partly correct. What the fed is doing and with a keystroke on a computer, is removing bad debt from one side of member bank's books.

quote:

ORIGINAL: JeffBC

quote:

ORIGINAL: MrRodgers
Well you are partly correct. What the fed is doing and with a keystroke on a computer, is removing bad debt from one side of member bank's books.

I prefer to just say, "The Fed prints up batches of money and gives it to their friends when they feel like it, can get away with it, or Congress authorizes it."

It's a little hard to tell when all this happens given the lack of transparency... OK... complete opacity.

quote:

ORIGINAL: MrRodgers
You could say that but the fed isn't 'printing' money. They are however spreading trillion$ to their members and 'friends' to maintain their stock dividends et all.

Here

quote:

ORIGINAL: MrRodgers

One wonders how it is that we seem to be as advanced a society as most commentators suggest. History refutes the assumption of mans' inevitable ascendancy at least sociologically. Here's one reason.....

One of the most telling of those refutations is the idea it seems still prevalent on forums, general discussions and even in some really ignorant members of the financial class and congress...that the US is printing money. We cannot escape the meaning of words. To siggest that the US is 'printing' money, that means actually printing up currency. Ok, we all set now ?

Yet, I suggest people please take hold...another way of saying get a fucking grip. The US is NOT PRINTING MONEY.

I wonder if anybody grasps this concept ? I wonder how it is that this idea has sunk in. Does anyone grasp that if that were true what the actual physical limitations are for actually doing that ?

Please explain people how it is I still hear and read and here too of course and inspired this OP...that the US is printing money.

NOTE: Let's assume for arguments sake that the printing presses are going like mad...printing money. Understand the requirements. Now do you still think the US is printing money ?

quote:

ORIGINAL: LookieNoNookie

quote:

ORIGINAL: MrRodgers

One wonders how it is that we seem to be as advanced a society as most commentators suggest. History refutes the assumption of mans' inevitable ascendancy at least sociologically. Here's one reason.....

One of the most telling of those refutations is the idea it seems still prevalent on forums, general discussions and even in some really ignorant members of the financial class and congress...that the US is printing money. We cannot escape the meaning of words. To siggest that the US is 'printing' money, that means actually printing up currency. Ok, we all set now ?

Yet, I suggest people please take hold...another way of saying get a fucking grip. The US is NOT PRINTING MONEY.

I wonder if anybody grasps this concept ? I wonder how it is that this idea has sunk in. Does anyone grasp that if that were true what the actual physical limitations are for actually doing that ?

Please explain people how it is I still hear and read and here too of course and inspired this OP...that the US is printing money.

NOTE: Let's assume for arguments sake that the printing presses are going like mad...printing money. Understand the requirements. Now do you still think the US is printing money ?

Well, considering that the U.S. Government doesn't have the legal authority to print money, I'm at a loss to grasp what it is that you feel some may be missing.

The Federal Reserve (a consortium of banks, who own same) does (have the right to print money).

The Treasury (federal) has not only the authority to borrow said funds but, is the borrower (and lender) of last resort. Ergo, all debt issued by the Federal Reserve, MUST be purchased (by edict) by the Treasury, if it is not purchased by the general public (which would include international governmental agencies).

Which, by the way, when they do so (buy the debt of the U.S. Federal Reserve), its distribution (via banks and other holding institutions) "becomes" money and the interest (profit) derived from same is payable (by the Federal Reserve) as essentially a tax on the allowable free reign of the providence of being allowed (by the federal government) to....out of thin air...."produce/create" money.

It's a bit circular but....the above is the short version.

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: Yachtie

Mr. R, many people lump digital debt expansion under the euphemism of printing money. Most people understand what is being meant and need not read, say, 1023 added pages explaining what is meant by saying that.

Just saying. [:D]

Well you are partly correct. What the fed is doing and with a keystroke on a computer, is removing bad debt from one side of member bank's books.

This reduces the banks requirement for cash reserves thus freeing up more for lending. The federal fund lending rates are overnight rates and are simply the rate charged by all member banks that have the capital for short term loans to other banks that don't.

Doing this and NOT printing money is why we don't see the inflation we would be seeing...if the feds were.

Yes, DS you are quite correct. I just don't like the connotation as it suggests that we will see inflation as a result and we haven't. My problem with the press et all, is the speculators begin to generate inflationary 'expectations' when there really shouldn't be as for real inflation to maintain, the money has to be there and...it isn't.

quote:

ORIGINAL: Phydeaux

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: Yachtie

Mr. R, many people lump digital debt expansion under the euphemism of printing money. Most people understand what is being meant and need not read, say, 1023 added pages explaining what is meant by saying that.

Just saying. [:D]

Well you are partly correct. What the fed is doing and with a keystroke on a computer, is removing bad debt from one side of member bank's books.

This reduces the banks requirement for cash reserves thus freeing up more for lending. The federal fund lending rates are overnight rates and are simply the rate charged by all member banks that have the capital for short term loans to other banks that don't.

Doing this and NOT printing money is why we don't see the inflation we would be seeing...if the feds were.

Yes, DS you are quite correct. I just don't like the connotation as it suggests that we will see inflation as a result and we haven't. My problem with the press et all, is the speculators begin to generate inflationary 'expectations' when there really shouldn't be as for real inflation to maintain, the money has to be there and...it isn't.

We call it printing money because whether its creating running an actual printing press or digitally creating something from nothing. There is no functional difference.

And the primary reason thats that Bernanke has been engaging in his economic policy is to create inflationary pressure - or more precisely put, to avoid deflation.

The world is awash in currency - but mostly in the hands of central banks, big unions, big governments and big business. The average person persons aggregate buying power has greatly diminished.

The average household income is down. The average household networth is down. Absent these items, there is no demand. Absent demand - no inflation.