FEDERAL RESERVE RAKES IN BILLIONS

http://finance.yahoo.com/blogs/daniel-gross/banks-struggle-fed-racks-huge-profits-taxpayers-171436518.html?sec=topStories&pos=3&asset=&ccode=


As Banks Struggle, Fed Rakes up Huge Profits -- For Taxpayers -- Daniel Gross -- 10/3/2011
Yahoo.Finance


At the end of 2010, the Fed held $2.16 trillion in mortgage-backed securities, government bonds, and securities issued by government agencies, up from $1.845 trillion at the end of 2009. So for calendar year 2010, comprehensive income — interest on bonds plus about $7 billion in earnings from crisis-era rescue operations — rose from $53.4 billion in 2009 to $81.735 billion. As a result, the Fed transferred $79.3 billion to Treasury in calendar year 2010, up from 53 percent from the 2009 total of $53.4 billion, and more than double the 2008 total of $31.7 billion.

READER COMMENTS:  The FED creates money out of thin air and then uses that to buy treasuries etc. which pay interest. Before paying out any of that profit back to the Treasury, its owners and officers keep any amount of that profit for themselves, no questions asked. They have the authority to do that.

Of course the fed is a money making institution. They make (print) the money! LOL. It doesn't matter if they print the money, loan it out and then keep the interest or just print the money and keep it for themselves. They literally grow money on trees. He also failed to mention the inflationary...

Guess from whom FED MAKES MONEY??
Any fool who can write IOU print money to buy bonds can make interest money!! Wait what if some of those companies go under and bonds become worthless?? That is the problem of Fed Chairman of another day to be written off to tax payers!! BUT TODAY WE ARE MAKING... More

My buisness would praly make money as well....IF I COULD PRINT IT WHENEVER I FELL LIKE IT!!!!LOL

It's called velocity of money. If enough money changes hands fast enough it gives the illusion of wealth even though the actual amount of money doesn't change.

#$%$ the banks own the FED and the FED is interlocked with international banks. The FED is a private company sanction to create all money out of thin air and loan it to the US government. All money circulated is borrowed into circulation. If it was spent into circulation then there would be no need... More

Read Cullen Roche's paper at Pragmatic Capitalism for a detailed summary.
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