PreviewThe people shape their own destiny
-- either as free people or as slaves.

If they remain self-reliant, they stay free.
Ever expanding state power destroys lives.

Government panacea is a defective idea.
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Friday, April 29, 2011

How much money do you print a day?

Inflation happens when a government prints more currency than the economy needs

To the title question - How much money do you print a day?

Last year, the Treasury printed about $700,000 – but this year the Federal Reserve asked Treasury for $1 billion.

$1 billion a DAY?

Treasury has 2,500 employees working ‘round the clock – 24 hours – just to keep up.

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Last week Patrick Bove took a tour of the Bureau of Engraving and Printing – also known as the U.S. Money Factory, in Washington DC. These are his remarks.

When you stand there and watch a million bucks appear out of thin air… in less time than it takes to burn toast… it makes you think.

Why would anyone trade decades of hard work for a currency that’s bleeding value by the day?

Your guess is good as mine…

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Inflation is a sneaky tax. Instead of taking your money directly, the government takes the value out of money.

Sneaky people like Obama & Co know the People will blame the merchant, the baker, the candlestick-maker for increasing prices -- and demand government action!

In fact, the value of the money is slipping away -- from the government action that already occurred, when they printed extra currency. Used Obama's way, government is the thief.

Obama gets what he wants -- more power. We get robbed.

Lucky us.

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