Is it true that private banks make $, not federal treasury?
Posted:
Mon Nov 05, 2007 5:24 pmby riggable
In the silly Zeitgeist movie Jay2a showed us, it proclaimed that Jd Rockefeller and others of the private bank secter were the minters of U.S. legal tender, NOT the federal Treasury. Is this true? Please respond, preferably with an article or essay to back them up FROM A REPUTABLE SOURCE PLEASE, NOT IDIOTIC PROPAGANDA WEBSITES.
thanks a ton, mates.
Posted:
Mon Nov 05, 2007 5:58 pmby Harijan
No it is not true.
http://www.treasury.gov/education/duties/
The Treasury is the only organization that can print currency, and it is the only organization that prints currency. This is a fundamental underpinning of any banking system. Only the government is allowed to control the supply of currency.
It may be that the movie propoganda was referring to some industry leaders in the late 1800s and early 1900s that were given government assistance and essentially monopoly powers when they really didn't need it. But I havn't seen the movie so I can't really say.
Posted:
Mon Nov 05, 2007 6:33 pmby unriggable
FYI Mint makes coins, treasury makes dollars.