It is written: "[The Fed] functions as the US Treasury's money printer' Wrong. The Fed is the money creator. The U.S. Mint prints the FRNs and sells them at the cost of printing to the Fed. That is about ten cents per Washie and $20 per Bennie. The Mint will not tell me the printing cost. The Fed sells FRNs at face value to commercial banks for customer withdrawals. The Fed uses book-entry fiat credit to buy Deficit Spending Treasury securities from the Treasury. The govt pays bills with the credit. Withdrawals at commercial banks of the credit receive FRNotes that used to say Redeemable in Gold or in Lawful Money. 100 years of fiat credit totals $36 Trillion. In 1933, bogus legislation declared the Fed's credit was a Legal Tender, i.e., a debt of the people.