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<blockquote data-quote="wkmac" data-source="post: 964305" data-attributes="member: 2189">Lifer,In one respect, it is true that the Treasury and not the FED prints money but paper money in some respects is not the greater portion of the money being created.&nbsp; Most money is nothing more than a book keeping entry as a result of fractional reserve banking.&nbsp; Some economists argue while others fully admit this money is mostly a fiction, why some like economist Murray Rothbard advocated ending the privatized monopoly of the Federal Reserve and nullifying this book entry debt.&nbsp; Although I agree with Rothbard I don&#039;t see this happening for a variety of reasons but in the meantime, it would do well for the public to understand what the real process is when the Federal Reserve actually creates money which in truth is nothing more than monetized debt.&nbsp; A great read towards that end IMO is the Federal Reserve Bank of Chicago&#039;s booklet, Modern Money Mechanics.&nbsp; Regardless of what one thinks of the FED or what should be done with it, this booklet educates the reader on how most money is really created and the Treasury has little to do with it.Page 3 under the title, &quot;Who Creates Money&quot;Now read the rest if you dare!</blockquote>

[QUOTE="wkmac, post: 964305, member: 2189"] Lifer, In one respect, it is true that the Treasury and not the FED prints money but paper money in some respects is not the greater portion of the money being created. Most money is nothing more than a book keeping entry as a result of fractional reserve banking. Some economists argue while others fully admit this money is mostly a fiction, why some like economist Murray Rothbard advocated ending the privatized monopoly of the Federal Reserve and nullifying this book entry debt. Although I agree with Rothbard I don't see this happening for a variety of reasons but in the meantime, it would do well for the public to understand what the real process is when the Federal Reserve actually creates money which in truth is nothing more than monetized debt. A great read towards that end IMO is the Federal Reserve Bank of Chicago's booklet, [COLOR=#ff0000]Modern Money Mechanics[/COLOR]. Regardless of what one thinks of the FED or what should be done with it, this booklet educates the reader on how most money is really created and the Treasury has little to do with it. Page 3 under the title, "Who Creates Money" Now read the rest if you dare! [/QUOTE]

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