Wednesday, March 25, 2009
One Trillion
My favorite morning show hosts posted a link to show what one trillion dollars looks like. Here it is. Basically, the stack of $100 bills is 6 foot high and two football fields. In the book, Made To Stick, the Heath brothers make the point that numbers should always be relative to make a lasting impression on the listener's mind. For more tips on delivering information, see presentationzen.com. I also believe that the use of cartoons reinforces learning. An excellent example of how an author used the principles of Made to Stick and delivered a message, see Daniel H. Pink's book, Johnny Bunko.
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Does the Fed decide to just print off this amount of money or do they auction off bonds to the amount of this much money? Or both? to accomodate for the large amount of spending being done?
ReplyDeleteHi, the FED just prints off the money...this is really interesting to me because it shows what money is...it only has value because people accept it...thanks for reading.
ReplyDeleteThe Fed does not print money. Currency and coin are produced by the U.S. Treasury (Bureau of Engraving and Printing and Bureau of the Mint, respectively). The currency and coin is then purchased by the Fed to meet necessary demand.
ReplyDeleteHowever, the Fed does create money (by creating reserves in exchange for debt). Please don't perpetuate the myth and image that is so prevalent in the media - the Fed does not print money.
connor, tim's comment is accurate. my bad.
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