Chester Copperpot
10-24-2008, 12:41 PM
Just something to think about.. (Yes, its more money stuff, Im sorry.)
The federal govt could have bailed out the banks for $700 BILLION, while only costing $280 MILLION had it simply issued US Notes instead of buying Federal Reserve Notes from the Federal Reserve.
A US Note is like a Federal Reserve Note except its issued by the govt instead, and it carries a red seal instead of a green seal. It only costs 4 CENTS to produce:
http://www.allensinc.com/coins/currency/smalltype/images/100u.jpg
The govt could have produced 7 BILLION, $100 US Notes for a cost of $280 MILLION and STILL bailed out all the banks for $700 BIllion.
But instead we bought the money at face amount ($700 BIllion) from a private bank that simply credited the Treasury's bank account with money (at NO cost) and we have to pay interest every year on this money to boot.
$700 BIllion more in debt + $35 Billion a year in interest for these instead:
http://www.fuldaohio.com/images/HundredDollarBill.jpg
The federal govt could have bailed out the banks for $700 BILLION, while only costing $280 MILLION had it simply issued US Notes instead of buying Federal Reserve Notes from the Federal Reserve.
A US Note is like a Federal Reserve Note except its issued by the govt instead, and it carries a red seal instead of a green seal. It only costs 4 CENTS to produce:
http://www.allensinc.com/coins/currency/smalltype/images/100u.jpg
The govt could have produced 7 BILLION, $100 US Notes for a cost of $280 MILLION and STILL bailed out all the banks for $700 BIllion.
But instead we bought the money at face amount ($700 BIllion) from a private bank that simply credited the Treasury's bank account with money (at NO cost) and we have to pay interest every year on this money to boot.
$700 BIllion more in debt + $35 Billion a year in interest for these instead:
http://www.fuldaohio.com/images/HundredDollarBill.jpg