The U.S. Treasury printed more than 3 times the face value in $100 bills compared to the total market value of all the gold produced in 2013 and, of course the U.S. Treasury is quite proud of this achievement as their website is called none other than: MoneyFactory.gov!
The above introductory comments are edited excerpts from an article* by Steve St. Angelo (srsroccoreport.com) entitled Hyper-Printing The $100 Federal Reserve Fiat Note vs Gold.
St. Angelo goes on to say in further edited excerpts:
The U.S. Department of Engraving and Printing issued more $100 Federal Reserve Notes in 2013 than in any year prior. Of course, part of the reason was due to the new $100 anti-counterfeit bill released in 2013, but the increased trend for the largest bill has been going on for decades.
This can plainly be seen in the graph below:
The chart also points out the obvious, who needs $1 bills anymore…LOL??
…In order to understand the huge leverage now in the U.S. Fiat Currency System, we need to look at the following table:
As I mentioned before, part of this huge increase in $100 bill printing was to exchange the old $100 bill with the new anti-counterfeit Federal Reserve Benjamin Franklin Note, but if we go back prior to the release of the new $100 bill, there were nearly 2 billion of the old $100 Federal Reserve Note printed in 2010. Thus, a total of $191 billion in $100 bills were printed in 2010, representing 80% of the $240 billion in total U.S. currency issued that year. This is up from the 56% ratio of total new currency supply in 2003.
$100 Federal Reserve Note Printing vs. Gold
To get an idea of just how much monopoly money the U.S. Treasury printed via its $100 Federal Reserve Note, take a look at the following chart:
The total face value of the $100 bills printed in 2013 amounted to $443 billion. Now, compare this to the total market value of all the gold produced in the world that very same year. According to GFMS 2014 Gold Survey, the world produced 3,022 metric tons [97.1 million troy ounces] of gold in 2013.
Doing some simple arithmetic…the average price of gold in 2013 (according to Kitco.com) was $1,411 an ounce and if we multiply it by 97.1 million oz, the total market value was $137 billion. That means the U.S. Treasury printed more than 3 times the face value in $100 bills compared to the total market value of all the gold produced in 2013 and, of course the U.S. Treasury is quite proud of this achievement as their website is called none other than: MoneyFactory.gov!…
One more interesting tidbit. According to the Federal Reserve, it costs 13.1 cents to print each $100 bill. Even though the total face value of the $100 bills printed in 2013 were $443 billion, the cost was just a mere $580 million… basically one-tenth of a percent of the cost of the face value.…
I would bet my bottom Silver Dollar that when faith in holding U.S. Federal Reserve Notes heads into the toilet, it would be much wiser to own REAL MONEY than the monopoly paper printed by the MoneyFactory.gov.
Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.
*http://srsroccoreport.com/hyper-printing-the-100-federal-reserve-fiat-note-vs-gold/hyper-printing-the-100-federal-reserve-fiat-note-vs-gold/ (© 2014 SRSrocco Report. All rights reserved.)
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