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Originally Posted by epitome
Um Mutt was right and Rochard was pointing out that Americans apparently don't understand how the system works.
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And apparently you are one of them.
All 3 of you are wrong according to Wikipedia.
Mutt said:
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The Federal Reserve doesn't print US dollars, the US Treasury prints the paper currency that spits out of an ATM.
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United States Bureau of Engraving and Printing prints it.
Look at any dollar bill, first line says "Federal Reserve Note" not "US Treasury Note"
http://en.wikipedia.org/wiki/Federal_Reserve_Note
A Federal Reserve Note, also a United States banknote or U.S. banknote, is a type of banknote used in the United States of America. Denominated in United States dollars,
Federal Reserve Notes are printed by the United States Bureau of Engraving and Printing on paper made by Crane & Co. of Dalton, Massachusetts. Federal Reserve Notes are the only type of U.S. banknote currently produced.[1] They are distinct from Federal Reserve Bank Notes, each of which was issued (until 1971) and backed by one, rather than all collectively, of the twelve Federal Reserve Banks.
Treasury Note
http://en.wikipedia.org/wiki/United_...f_the_Treasury
The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue. The Department is administered by the Secretary of the Treasury, who is a member of the Cabinet.