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Pastimes : Kosovo
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To: Jacalyn Deaner who wrote (2518)4/7/1999 5:08:00 PM
From: nihil  Read Replies (1) of 17770
 
Sorry to violate your command, but your post was addressed to me. Please distinguish between printing currency -- and printing or creating money. The Treasury cannot release its newly printed Federal Reserve Notes into circulation. It is just a hired printer for the Fed. Only the Fed owns those notes, and it distributes them to banks and charges the bank's accounts in the Federal Reserve Bank. Thus no creation of money when notes go into circulation (M1 doesn't change). My guess for the big printing order in the 4th quarter of 1999 is the widespread concern that banks and ATM will go on the fritz --the Y2K problem. All hysterics will make a run for cash on their banks, and the banks need plenty currency to curb the mobs screaming for their cash. Alan and Bob are way ahead of the mob on this. So relax, its elementary accounting so it may be beneath your level of attention. Sorry if I offended you.
Don't think you'd much enjoy diving with the sperm whales. It's a different kind of sperm, and they dive really deep. And when they blow they really blow!
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