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The Department of the Treasury
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∙ 10y ago
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What is a bank's own printed money called?
The Bank Can't Print its own money because only the treasury can print or make money . Every country would have a central governing authority for banks and they print paper and mint coin money.
Is the federal government allowed to coin money?
Yes, the federal government is the only entity that has the authority to print US currency. They have given the power to the Federal Reserve Bank, which is not a part of the federal government, but a privately held bank.
Does the Constitution authorize congress to print up paper money or to coin money?
At the time the constitution was drafted and put in place only coin money was mentioned and acceptable. The power to "coin money" has obviously not been tested in courts. If it was that easy, then people would have brought suit and won this in the courts years ago. We obviously print money now. If this is unconstitutional, then we need to sue to bring the US in line with the Constitution. Good luck.
Can California create its own money?
No, California cannot create its own money as that is within the authority of the federal government by the U.S. Constitution. States in the U.S. are not allowed to print their currency.
Does only the federal government has the authority to print US currency?
Article I, Section 8 of the Constitution says that "The Congress shall have Power...To coin Money, regulate the Value thereof, and of foreign Coin," and Section 10 says that "No State shall...coin Money". It is illegal for private citizens to coin money.The Supreme Court has ruled that Congress's power to coin money includes the power to print paper money and make it legal tender.The Federal Reserve decides how much money will be produced. Paper money is printed by the Bureau of Engraving and Printing, and coins are produced by the United States Mint.( this is a wiki answers in the history category reproduced here. First answer by User:JohnBoyW. )Who_may_coin_and_print_money
Which countries can print money?
Not all countries print their own money. A country can only print money if it is in control of its currency like Japan and the US. One country that cannot print money is Greece because they are not in control of the Euro.
Can each state printed its own kind of paper money?
No, only the federal government has the authority to issue currency in the United States. Each state is not allowed to print its own kind of paper money.
Can the state government print more money if its needed?
No. The state governments cannot print money - that's the jurisdiction of the federal government. The only way state governments are allowed to mint their own currency is if it's in gold or silver. To the best of my knowledge, no state has ever done this.
Can only national government print money?
yes
Who are the only people who can coin money?
congress
What institutions has the power to coin money?
Only the treasury has the power to make money.
Can each county print its money?
No. Only the central bank of the country can print money. Counties cannot print their own money. They have to get it from the central bank/government. For ex: Reserve Bank in India and the Federal Reserve in the USA are the respective entities that are entitled to print money in their countries (India and USA). Each country has a corresponding entity that prints money for the country's use.
