Posted on 04/21/2011 1:37:48 PM PDT by cripplecreek
Now Mike Huckabee is attacking Glenn too and the Huckster doesn’t attack anyone.
Sounds like Glenn may be ahead of the curve with FOX now that its the Trump news network.
or maybe its because beck does not even know that ‘the fed’ does not print money
Of course the fed doesn’t print money, that’s the job of the mint but the mint prints money on the fed’s order.
Saying the fed prints money is a very common term but we all know that’s not an accurate description but we all know what it means.
the treasury does
so treasury operates under the order of ‘the fed’?
Doesn’t The Fed set monetary policy?
what is setting monetary policy - i am not sure what it means
i thought that was like setting the interest rates the banks pay to the fed
Seems to me that they do but they shouldn’t. After all, they’re a supposedly non governmental entity. Its a far more convoluted mess than it needs to be.
the gray area for me is that treasury prints money
but the fed controls the amount of money in circulation
not sure how the fed can circulate money that the treasury does not make available to it
even though the money is just data
And all the paper for the currency is manufactured in little Dalton,MA.
And its not cheap paper either.
Yes, when it comes to printing money Sloop, it surely does.
Pull a dollar bill out of your pocket and you will see it says "Federal Reserve Note" on it. The Fed decides how much money (all types, electronic and cash) is in circulation and tells the Treasury when it would like some more printed. The old money goes from banks, back to the Fed where it is burnt. The Fed, not the Treasury, keeps track of all those millions of bills with their names on them.
The last time that the Treasury printed bills for themselves was in the 1960s. The did not say "Federal Reserve" on them at all, they said "Silver Certificate" on the front.
And, to be a bit less pedantic: everyone knows that the term "Fed printing money" means "increasing the money supply" the vast majority of which is never in currency of any type but held as ledger amounts in banks and other financial institutions.
I have no idea what Glenn Beck knows about all this, he does seem confused to me a lot of the time, and struggling to figure things out. But I don't take this comment as proof of any deep ignorance on his part, and neither should you.
And Obama wants the justice department to investigate energy prices.
http://www.freerepublic.com/focus/f-news/2708631/posts
Unreal...I am so glad I DVRd this episode! Just getting to the “why” now.
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