November 15, 2010

UTA Students Visit the Bureau of Engraving and Printing

I am serving as a faculty adviser to the student organization, the National Association for Business Economics - UTA chapter, affiliated with UTA Economics Department. Last Friday we went to the Bureau of Engraving and Printing in Fort Worth, Texas. There are only two BEPs in USA: one, in Washington, DC; and two, in Fort Worth, TX. Tour was really interesting. UTA students get a chance to see the money creator as well as the inflationary machine with their own eyes. The most interesting fact is that the BEP works 24 hours a day, Monday through Friday, and now it is printing $386 million a day or $16 million an hour. Given the recent announcement about the quantitative easing, it will take the BEP-FW 1550 days to print $600 billion that FED will use to purchase the US government bonds. If the BEP-DC prints at least at the same rate, it will take both BEPs 775 days or more than two years to print $600 billion. Unless my calculations are wrong, the whole situation around the quantitative easing seems to be very interesting.

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