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A comment on The Great Steepening. Parent comment

Re:The Great Steepening by dragonwriter on Wednesday March 23, 2022 @12:12PM (#30779992)
> The Fed's balance sheet is an amazing thing from an accountings standpoint -- they're the only entity which counts currency as a liability.

Don't all currency-issuing entities do that? I guess the Fed would be unique for US currency.

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Re:The Great Steepening by JumpCrisscross on Wednesday March 23, 2022 @12:14PM (#30780014)
> Don't all currency-issuing entities do that?

All central banks do. Coins aren't a liability of the U.S. Treasury's in the way Federal Reserve notes are for the Fed.

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Re:The Great Steepening by snuxoll on Wednesday March 23, 2022 @03:40PM (#30782416)
Well, that's because the US Treasury only mints the coins - the Fed banks buy them. All US currency in circulation is ultimately issued by the US Federal Reserve, they just don't physically make all of it.
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