• Security incident: ISF was recently accessed by intruders. Please change your password, and change it anywhere else you used it. Read more

The case against Dr. Paul

Tell me: How many Federal reserve notes are in circulation?

Does the congress know this answer?

Why are these questions important?
Click to expand...

Yes, Congress knows the answer.

For the FY2007, the Bureau of Printing and Engraving printed the following:
$1- 4,147,200,000
$5- 1,401,600,000
$10- 83,200,000
$20- 1,971,200,000
$50- 428,800,000
$100- 1,088,000,000

That's a total of 9,120,000,000 notes printed for FY2007. According to the BEP, 95% of the notes printed are printed to replace notes already in circulation, or taken out of circulation (due to things like mutilation, etc.).

It's also worth noting the lifespan of the typical bill. These are the average lifespans for each bill, in months:

$1- 21
$5- 16
$10- 18
$20- 24
$50- 55
$100- 89

So, that's that. Using these numbers, you can start to figure out how many notes are in circulation.

If you want the numbers printed for previous years, they can be found here:

http://www.moneyfactory.gov/section.cfm/2/51
 
TriskettheKid said:
Yes, Congress knows the answer.

For the FY2007, the Bureau of Printing and Engraving printed the following:
$1- 4,147,200,000
$5- 1,401,600,000
$10- 83,200,000
$20- 1,971,200,000
$50- 428,800,000
$100- 1,088,000,000

That's a total of 9,120,000,000 notes printed for FY2007. According to the BEP, 95% of the notes printed are printed to replace notes already in circulation, or taken out of circulation (due to things like mutilation, etc.).

It's also worth noting the lifespan of the typical bill. These are the average lifespans for each bill, in months:

$1- 21
$5- 16
$10- 18
$20- 24
$50- 55
$100- 89

So, that's that. Using these numbers, you can start to figure out how many notes are in circulation.

If you want the numbers printed for previous years, they can be found here:

http://www.moneyfactory.gov/section.cfm/2/51
Click to expand...


Why do you think that the number of notes in print is the answer?

Do you think there is a dollar bill sent from your bank to the retail store when you purchase something with your debt card?

You do know that much of the economy is electronic without the need of notes to be traded?
 
JEROME DA GNOME said:
They are circulated digitally as well. I do not know for certain, but I believe that the vast majority of transactions are done electronically today.
Click to expand...

And you do know that by definition a federal reserve note is a piece of paper (well mostly cloth actually), not an entry in an electronic ledger?
 
Spindrift said:
And you do know that by definition a federal reserve note is a piece of paper (well mostly cloth actually), not an entry in an electronic ledger?
Click to expand...

What is transfered from your bank account to the bank account of a retail store when you make a purchase with your debt card?

You don't think your bank mails the other bank a piece of paper, do you?
 
JEROME DA GNOME said:
What is transfered from your bank account to the bank account of a retail store when you make a purchase with your debt card?

You don't think your bank mails the other bank a piece of paper, do you?
Click to expand...

No they transfer credits and debits for dollars. They do not transfer Federal Reserve Notes.

A dollar is a value, a Federal Reserve Notes is a physical representation of a dollar(s) just as the electronic entry is an electronic representation of dollar(s).

Dollar and Federal Reserve Note are not the same thing. Just as the SPP and the US Constitution are not the same thing.
 
Spindrift said:
No they transfer credits and debits for dollars. They do not transfer Federal Reserve Notes.

A dollar is a value, a Federal Reserve Notes is a physical representation of a dollar(s) just as the electronic entry is an electronic representation of dollar(s).

Dollar and Federal Reserve Note are not the same thing. Just as the SPP and the US Constitution are not the same thing.
Click to expand...


What? :confused:

What are dollars if they are not Fed notes?

Who creates these dollars which are not Fed notes?


Are you attempting to be nominated for a Stundie?
 
JEROME DA GNOME said:
What? :confused:

What are dollars if they are not Fed notes?

Who creates these dollars which are not Fed notes?


Are you attempting to be nominated for a Stundie?
Click to expand...

A dollar bill is a voucher able to be exchanged for goods or services to the value of a dollar. There is a difference between the currency and its instruments.

For example, in the UK, the notes have "I promise to pay the Bearer on demand the sum of Ten Pounds" (or however much) written on them. Note the fundamental difference this implies between the piece of paper and the fiscal power it holds.

As usual, Gnome, you're not even wrong.
 
volatile said:
A dollar bill is a voucher able to be exchanged for goods or services to the value of a dollar. There is a difference between the currency and its instruments.

For example, in the UK, the notes have "I promise to pay the Bearer on demand the sum of Ten Pounds" (or however much) written on them. Note the fundamental difference this implies between the piece of paper and the fiscal power it holds.

As usual, Gnome, you're not even wrong.
Click to expand...



Unbelievable!

So, the amount of electronic dollars is not relevant when talking about the amount of dollars in circulation.

Dumbfounding!
 
JEROME DA GNOME said:
What? :confused:

What are dollars if they are not Fed notes?

Who creates these dollars which are not Fed notes?


Are you attempting to be nominated for a Stundie?
Click to expand...

You are confusing the representation of a dollar with the dollar itself.
Fed notes are a representation of a dollar. Fed notes are currency, the piece of paper actually has no value, it's what it represents that has value.

Not all dollars are represented by Fed notes. They can be redeemed for Fed notes and if every dollar was turned into a fed notes, there would be a shortage of currency.
 
JEROME DA GNOME said:
Unbelievable!

So, the amount of electronic dollars is not relevant when talking about the amount of dollars in circulation.

Dumbfounding!
Click to expand...

That's not the question you asked.

You asked how many Federal Reserve Notes are in circulation. Dollars and Federal Reserve Notes are not the same thing.
 
JEROME DA GNOME said:
Unbelievable!

So, the amount of electronic dollars is not relevant when talking about the amount of dollars in circulation.

Dumbfounding!
Click to expand...

Dumbfounding? :confused:

The total value of an economy is not reducible to the total number of monetary instruments in circulation, no. That's kinda basic economics, J.
 
China, Taiwan and Decoupling

When I think of decoupling I don't think of an end to trade between China and the US. I think instead of a relaxation of monetary controls such that the Chinese currency can free float with respect to the dollar, and the Chinese banks won't intentionally lower interest rates to match US's wishes.

If the US goes into overdrive pouring dollars into the economy to avoid a local recession, China simply will not follow lockstep for the next 10-20 years. They are already getting a lot of pressure to end the rampant inflation within their own borders. Once they stop following US dollar pumping, the difference will accelerate. There is no slow way to go about it. As US accelerates money printing, China will slow down and will stabilize their own currency. Short term they will see reduced exports to the US and some economic impact. Longterm it doesn't make a bit of difference.

The US buys 19% of China's exports. Where do you see that percentage this time next year? Will the US be buying more than 19% of China's output? The same? Less? Absolutely it will be less. The US is borrowing everything it gets from China. It might be this time next year the US accounts for 10% of China's exports. Then the next year even less. No way is the percentage going to go up.

Taiwan is another factor. Taiwan seems to be afraid of a Chinese takeover. They look to the US for protection against this event. The US provides protection in order to be able to influence Taiwanese monetary policy. We lower our rates -- Taiwan lowers its rates also. We ask them to lower their prices with respect to dollars, they do it. Otherwise the good 'ol US of A will withdraw our protection against the mainland China boogeyman.

But realistically what would a Chinese takeover of Taiwan mean? Look to Hong Kong. When it went back to Chinese ownership in 1997 what happened? Realistically not a darned thing. It's still a financial mecca. Still going strong. China was smart enough not to kill the golden goose. Rather than socializing Hong Kong, the tendency was to introduce more capitalism into mainland China. More free market economics. China has enjoyed continued economic expansion all these years. Capitalism works.

China wants Taiwan back, it's an ongoing embarassment. It's also a symbol of US involvement in Chinese affairs. China sees Taiwan as a lost colony. It's none of the US's business. All China wants is for Taiwan to be part of China again. It all comes down to face. China just wants Taiwan to Kow-tow to China instead of Kow-towing to the USA. That's all it amounts to. A Chinese Taiwan would simply pay tribute to China instead of to the USA. They'd simply make small economic changes as a response to China's demands, as opposed to USA's.

A China-Taiwan merger would simply mean more cooperation between the two. Perhaps a unified currency. More technology exchange. More ease with which Taiwan can use mainland China's production machines. Business as usual. It wouldn't mean a destruction of Taiwanese freedoms. It would mean a further increase in mainland China's freedoms.

It would symbolize to the world that the USA doesn't have the power it once had. That alone would be reason enough for China to occupy Taiwan. Just to show up the USA as being incapable of stopping it.

China recently surfaced a submarine in the midst of US naval operations in the sea near Taiwan. The US was caught completely by surprise. The Chinese sub could have shot off a nuke and taken out a US carrier. Why did China do this? It's just a show of force. It served its purpose. Recently China told an American naval vessel it couldn't dock in Hong Kong for shore leave, then later capitulated. Why? Because they can. They can be arbitrary and capricious. The US can't do anything about it. Little by little they're testing their limits.

A couple of years back Bush announces the US must be able to operate in space, and if needbe prevent other nations from operating in space as well. What kind of crazy statement is that? How does China respond? Within weeks, China lobs a missile up into low earth orbit and destroys one of their own satellites. Why? They say it was a test. The real reason is to thumb their noses at George Bush and the USA. It's a statement, "Ok, you wanna play hardball? Anything you put in orbit we can knock out. Get it?" I haven't heard anything out of Bush on the space issue since. Consider Bush humbled.

China isn't a democracy. They don't have elections like we have. Those in power over there don't need to make promises in order to regain election. Unlike in the US where re-election is everything, and our politicians promise anything in order to stay in office. The Americans won't tolerate economic downturns. Economy crashing? Vote the bastards out of office. But in China? There is no voting in the opposition party. If there is an economic downturn in China, the people just have to lump it. Business losses due to reduced exports? Adapt or collapse.

The whole mindset that China is dependent on the USA dollars for anything is absolutely ludicrous. It is a myth, promulgated by the same propaganda machine that has duped the American citizen about all things economic. The belief that the USA consumption drives the world economy is just exactly what USA is meant to believe, and by extension the rest of the world. It is a complete and utter myth. It is based on propaganda and lies from a Wall Street owned and operated media machine.

China uses dollars out of convenience only. That's the way the game is played. As soon as it ceases to be convenient they'll adapt and use something else. The Chinese government has essentially unlimited ability to respond to economic problems. They have massive capital savings and massive production capability. They have a captive citizenry, that is happy with the way things are going. Any downturns can be blamed on the US -- the Chinese government can use propaganda too. They need only claim the US is engaging in economic warfare, so the people must endure a bit of hardship for the greater good. The Chinese will go along. They'll endure.

The US economy in contrast is a fragile house of cards. We can't respond in any way that won't make us even weaker. Any global storm will devastate the US, yet leave the rest of the world essentially intact. To claim that there would be a falloff on world trade due to protectionist trade restrictions is...ridiculous. Why would any non-US country benefit by doing anything to hamper trade? If the US were to suddenly vanish, all US demand were to suddenly disappear, would other countries stop trading amongst themselves? Hardly. They would have a massive incentive to step up trade to make up for the loss to US. The US can only realistically dictate trade policy between US and other countries. But US can't set policy for other countries trading between each other. Not anymore.

The rest of the world is just sick to death of the US. You might see token support from our closest allies, such as the UK, but it won't be sufficient to grind world trade to a halt. Enough will go on that any holdouts will quickly turn their backs on the US and act in their own self interest. As they should.

I predict a wave of revolutions in small countries around the world. Without US support all the oppressive puppet governments will be unable to maintain power. The US modus operandi is to back friendly governments in foreign nations. Why? Because the US needs tribute in order to maintain the empire. Does the US support popular governments in foreign nations? No, because then they wouldn't need US support to stay in power. Rather the US supports oppressive, unpopular governments that can be counted on to extract the most blood from their people, and ship it off to the US (in the form of real goods for pennies on the dollar). If these puppet governments don't kow-tow to the US, the US threatens to let their own populations overwhelm them. That's how the US operates. All that is going away.

Some countries will go socialist/populist. Some will become more capitalist/free market. Whatever they do, they'll be making their own choices. Those that support free trade will find they thrive. Those that don't will stagnate.

With the US empire gone, the opportunites for wealth creation will be enormous. It's a poor world out there, and it wants the good life. Fantastic profits are to be had by simply investing in these emerging markets. All it takes is the US to get out of the way and to stop gaming the system.

-Dave
 
dash said:
When I think of decoupling I don't think of an end to trade between China and the US. I think instead of a relaxation of monetary controls such that the Chinese currency can free float with respect to the dollar, and the Chinese banks won't intentionally lower interest rates to match US's wishes.
...<HUGE SNIP>....

-Dave
Click to expand...

Why is that posted here instead of in a new thread?
 
I thought that dash has shaken the dust from his sandals and damned this website to perdition just a couple of days ago.
Now he is back.
The term "High School Drama King/Queen" comes to mind.
 
You must log in or register to reply here.

Share this page

ISF - Join now!

Every member here is approved by hand. No bots, no spam, just people who care about evidence and honest debate.

Membership is free!

Create your free account

Back
Top Bottom