1.  A hundred and fifty years ago banks, as well as governments, printed money that could be traded and used for payment of debts.

2.  The extra gold no longer needed to back up printed American money then in circulation was effectively used to set up the exchange stabilization fund.

3.  Thus it cannot finance budget deficits or pay its bills with newly printed money.

4.  To keep them afloat the central government has printed money which has fueled inflation and led to a huge misallocation of resources.

5.  There is some concern that the public would not have confidence in locally printed money.

6.  Belarus has printed money in a bid to reduce its budget deficit -- a policy rejected by the Russian central bank.