在美联储资产负债表的负债表一栏里有两个主要组成部分：商业银行持有的活期存款，也即它们的准备金；和联邦储备券，即由美联储发行的现金。
On the liability side, there are also two major figures: Demand deposits held by the commercial Banks, which constitute the reserves of those Banks; and Federal reserve Notes, cash emitted by the Fed.
保罗更是毫不客气的直接指出，美国联邦储备券是一种伪造，美联储只是一种价格稳定器。
Representative Paul, less diplomatically, refers to Federal Reserve notes as “counterfeits” and to the Fed as a price fixer.
美联储的黄金储备应该被重新评估，抬高金价以偿还美联储的所有债务——主要是联邦储备券和存在联邦储备银行里的存款，以能够百分之一百偿还美元为准。
The gold stock of the Fed should be revalued upward so that the gold can pay off all the Fed's liabilities—largely Federal Reserve Notes and Federal Reserve deposits, at 100 cents to the dollar.
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