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<p>[QUOTE=&quot;medoraman, post: 1308571, member: 26302&quot;]The BEP prints the notes, and gets paid a fee for doing so. If they print a $100, they might be paid $.12 for it, they do not get $100 for the note. Only the Fed has the right to circulate FRN&#039;s, the US has the right to circulate US Notes, and the mint has the right to coin money. This is why the Fed pays face value for coins, since the profit from coinage belongs to the mint, not the Fed, just like the profit from FRN&#039;s belong to the Fed, not the BEP.</p><p><br /></p><p>A FRN is only the physical notes. That is the only FRN in existence. I have called US dollars transfered electronically &quot;electronic dollars&quot; just for sake of clarity. All are dollars, FRN&#039;s are just specific notes printed by the Fed, denominated in dollars,&nbsp; for use in day to day transactions.</p><p><br /></p><p>If it helps, think of FRN&#039;s like company scrip issued during the depression. The US stopped most of this since THEY wanted the interest free money, and didn&#039;t want others to horn in on their action. The creation of money has been a mainstay source of financing of governments almost since money was invented. Even silver and gold money had a built in profit for the government.[/QUOTE]</p><p><br /></p>

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