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<p>[QUOTE="fatima, post: 1309208, member: 22143"]This is an opinion (a pretty juvenile one at that) and is irrelevant. </p><p><br /></p><p>In regards to what I said, you didn't say anything that disputes what I posted. I suggest you read it again. Traveler's checks are created from federal reserve dollars and are redeemed in federal reserve dollars. I never said it had to be a bank that issued it and this isn't a requirement. You are simply wrong on the Money Market Mutual Funds. There is no other way to say it. You further make the mistake in assuming that I don't count these as federal reserve dollars. In never addressed this. I only pointed out that you got it wrong in that it was not part of the number I supplied. </p><p><br /></p><p>Furthermore. You consistently ignore the most damning item on your arguments about there being more than one type of USD. That is this direct quote from multiple websites of the the Federal Reserve.</p><p><br /></p><p><br /></p><blockquote><p><i>As the banker for the Federal government, the Fed clears checks drawn on the Treasury's account. Acting as fiscal agents for the government, the Reserve Banks sell, service and redeem Treasury securities. Further, currency and coin are placed into or are withdrawn from circulation in response to seasonal and cyclical shifts in the public's need for cash. <u><b>Almost all U.S. currency now consists of Federal Reserve notes</b></u>, which were first issued in 1914.</i></p></blockquote><p><br /></p><p><br /></p><p>Remember we are talking about USD Currency and here we have the Federal Reserve stating that almost all U.S currency in use are Federal Reserve Notes. Your insults towards me and chest thumping don't change that.[/QUOTE]</p><p><br /></p>
[QUOTE="fatima, post: 1309208, member: 22143"]This is an opinion (a pretty juvenile one at that) and is irrelevant. In regards to what I said, you didn't say anything that disputes what I posted. I suggest you read it again. Traveler's checks are created from federal reserve dollars and are redeemed in federal reserve dollars. I never said it had to be a bank that issued it and this isn't a requirement. You are simply wrong on the Money Market Mutual Funds. There is no other way to say it. You further make the mistake in assuming that I don't count these as federal reserve dollars. In never addressed this. I only pointed out that you got it wrong in that it was not part of the number I supplied. Furthermore. You consistently ignore the most damning item on your arguments about there being more than one type of USD. That is this direct quote from multiple websites of the the Federal Reserve. [INDENT][i]As the banker for the Federal government, the Fed clears checks drawn on the Treasury's account. Acting as fiscal agents for the government, the Reserve Banks sell, service and redeem Treasury securities. Further, currency and coin are placed into or are withdrawn from circulation in response to seasonal and cyclical shifts in the public's need for cash. [U][B]Almost all U.S. currency now consists of Federal Reserve notes[/B][/U], which were first issued in 1914.[/i][/INDENT] Remember we are talking about USD Currency and here we have the Federal Reserve stating that almost all U.S currency in use are Federal Reserve Notes. Your insults towards me and chest thumping don't change that.[/QUOTE]
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