Does anyone know how FRN's are distributed for circulation by district?f I live in San Francisco and go to banks for uncirulaterd straps of one dollar bills. I go neighborhood bank branches as well as those in the financial district. I have 23 2009 straps. Of these straps: 6 E's, 8 F's, 4 H's and 5L's. I always assumed that being in Distrct 12 (L) the overall FRN's would be L's. Is the distribution of FRN's multi-geograhphical and vary by denomination? Have many straps of two dollar bills from Minn. I's. Thanks!
Not a direct answer, but the Federal Reserve District deal was and is a scam! It's to give the illusion that the FR is not a central bank. Heck they probably just randomly print odd number of notes with different districts on them. Why isn't your strap of notes from a member bank all L/12's, and why aren't mine all J/10's. They knew than that all they needed was B/2, since that's were the nations money ls located. If you get a real technical answer to this, take it with a grain of salt and a little home work.
Federal Reserve Notes, while still printed for all 12 districts, are no longer shipped only to the district marked on the notes. Any brick from any district can go to any other district. The Fed is a central bank--no one would dispute that,--and the twelve district banks serve specific regional markets more efficiently than a single bank would. Furthermore, more money is located in New York because shipments of U.S. money to international banks occurs out of the New York FRB.
It's also worth noting that, up until 1983, new currency *was* always shipped to its "home" FRB. Lifting that restriction allowed the BEP to streamline its production schedule. Nowadays, the printing of each denomination tends to rotate through the district alphabet just once per year. Still, the quantity of notes printed for each district matches the number ordered by that district (which is why there are a lot of B's and L's, and not so many I's...). In the very early days of the Federal Reserve, even *circulated* currency was sorted and returned to its home district for reissue. I'm not sure when they dropped that policy, but it was a long time ago.
Speaking of the 80's the ninth circuit put to rest the issue of federal in federal reserve in 1982; Examining the organization and function of the Federal Reserve Banks, and applying the relevant factors, we conclude that the Reserve Banks are not federal instrumentalities for purposes of the FTCA, but are independent, privately-owned and locally controlled corporations." [Lewis vs. U.S., 680 F. 2d 1239, 1241] ------ Congressman Louis T. McFadden, Chairman of the House Banking & Currency Committee, speech on the floor of the House of Representatives, June 10, 1932; "We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. Some people think the Federal Reserve Banks are U.S. government institutions. They are not government institutions. They are private credit monopolies; domestic swindlers, rich and predatory money lenders which prey upon the people of the united States for the benefit of themselves and their foreign customers. The Federal Reserve Banks are the agents of the foreign central banks. The truth is the Federal Reserve Board has usurped the Government of the United States by the arrogant credit monopoly which operates the Federal Reserve Board." ----- There is plenty more where that came from. The private unconstitutional federal reserve banking system was and still is the most elaborate scam ever devised by man! Check out this video! It's very well made... www.youtube.com/watch?v=ZPWH5TlbloU
Ron, Just how does the quote, the link shared and your opinion about the Federal Reserve, "scam", the same scam that provides you with the notes you collect, pertain to the question of the OP? ff-topic:
The B.E.P. makes the notes I collect, and actually I prefer Silver Certs, Treasury, Gold Certs, Demand Notes, & Nationals over FRN. Yes I collect FRN, but I hate the Private Unconstitutional Federal Reserve System. It's the same concept that some people here collect Nazi coins. Does that mean you have to be sympathetic with fascism and hate Jews to collect them? As for answering the OP; There is no answer because it's all a scam... The districts were created to hide it from the people that it wasn't a centralize banking system back in 1913. Originally they had no districts, and even after it was written in Paul Warburg wanted only 8. Needing 12 districts? hardly - It was a farce.
But who orders them from the Treasury? With whom do the banks of the nation place their requests for Federal Reserve Notes that they need for their customers, businesses and daily commerce? It's the the Federal Reserve. They are FRNs not Treasury notes. The B.E.P. is the contracted printer for the Federal Reserve Banking system. Without their orders the B.E.P. doesn't just create FRNs for kicks. You can kick and scream all you want about this and try to bring comparative tangents into this to try and sensationalize this into some other discussion, away from what I've called you on, but it won't work in your favor. I'm sure you think you have this all figured out and there are plenty of anti Federal Reserve conspiracists out there who love to bury people in mountains of long winded fear-mongering highly politicized literature to back you up on the so-called "scam" but this talk, these claims, opinions and beliefs have no place in this thread, hence they are off topic. Calling them up as you have, didn't serve to answer the OPs question, it only served your own selfish desire to appease your own gripes that you could easily air elsewhere. Ron, I'm sorry, but that reply is a cop out and only proves my point that you had nothing to contribute to answering the topic of this thread.
All the FR does is charge interest on our own money, and they control inflation & interest rates to benefit themselves. My goodness, this scam has been going on way to long and they have looted this country dry! Dang krispy, even Woodrow Wilson later wrote he unwittingly destroyed his country by making the Federal Reserve Act law!
