How is our money created?

How is our money created? According to the Federal Reserve Act of 1913, I have established the following; The Department of the Treasury contacts the U.S. Mint and declares that a Federal Reserve Bank has expressed the need for dollars to be printed. The Bureau of Engraving and Printing prints the money. The Federal Reserve Banks, which are private corporations, buy the bills from the United States Mint for 234 dollars per 1000 notes of any denomination. That’s roughly 2.5 cents per $100 bill. They deposit this money at face value into their own account. They then purchase debt obligations such as U.S. Treasury Bills, Bonds, and Notes. Thereby, sending these notes right back to the U.S. Department of Treasury, which spends them into circulation. The Federal Reserve Banks, previously having nothing, now have the full face value of the printed money in their account. Additionally, they will receive the interest which will be paid on this money. With apologies to Ripley, Believe it or Not!
 
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