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<p>[QUOTE=&quot;fatima, post: 1309034, member: 22143&quot;]As of the end of October, the Federal Reserve lists $9.6 Trillion dollars in FRNs.&nbsp; not $600B.&nbsp;&nbsp; It&#039;s on their website.&nbsp; This sum does not include amounts having to do with secret monetary operations with other central banks and the TBTF banks.&nbsp;&nbsp; There are some estimates the real number is closer to $70T.&nbsp;&nbsp; Hence it is not USD. </p><p><br /></p><p>----------------------</p><p><br /></p><p>I have a $5000 paper I-bond that is sitting in my safety deposit box since 2001.&nbsp; I keep it because it pays ~ 5.75% and isn&#039;t subject to state taxation.&nbsp; It&#039;s a Treasury security that is part of the $15T treasury debt.&nbsp; Yet I can&#039;t spend it without first redeeming it into Federal Reserve dollars.&nbsp;&nbsp; There are millions of these type bonds out there which cover a non-trivial portion of the $15T debt.&nbsp; Howver they are not USD as I can&#039;t pay my taxes with the paper bond.</p><p><br /></p><p>-------------------</p><p><br /></p><p>One final point.&nbsp; The US Treasury still has the right to print currency in the form of US bank notes.&nbsp; It simply chooses not to because this would interfere with the operations of the Federal Reserve.[/QUOTE]</p><p><br /></p>

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