WASHINGTON (Reuters) - The Federal Reserve made record profits in 2009 and will return $45 billion to the Treasury, after its efforts to prop up the economy created a windfall for the government, the Washington Post reported.
The $45 billion reflects the highest earnings in the 96-year history of the U.S. central bank, the newspaper reported on its website late on Monday. The figure was obtained by calculations based on public documents, the Post said.
The Fed funds itself from its own operations and returns its profits to the Treasury. The largest previous refund to the Treasury was $34.6 billion in 2007, the Post said.
The report said much of the Fed's higher earnings were sparked by the central bank's aggressive program of buying bonds to push interest rates down and stimulate growth.
"By the end of 2009, the Fed owned $1.8 trillion in U.S. government debt and mortgage-related securities, up from $497 billion a year earlier," the newspaper reported. It said interest income on the investments was a major source of Fed profits.
The central bank also made money on its emergency loans and on special programs to prop up lending.
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I thought when the bankers openly stole from the taxpayers there would be revolt or at a minimum a huge outcry.
ReplyDeleteBut they own the media. When you own the media you can do what you want.
Why would you think there be any type of outcry?
ReplyDeleteEvery private poll I've seen over the last 5 years pertaining to a bonafide U.S. citizen and
the unalienable rights given to same have been
nothing short of appalling.
Not until it's over will those same realize the amazing life that was handed to them on a solid gold platter by hands that bled under every duress that this ole world could throw at them.
Those hands and hearts bled for OUR bill of rights; all of the founding fathers fled to this
country for a lack thereof.
And yet; we have less than 50%-- LESS THAN 50%
of the people in this country willing to say yes one has the RIGHT to keep and bear arms - not to actually have a gun mind you -- no sir -- just the right.
I'm sorry but until that attitude changes; and maybe it never will: all is naught.
I also realize here on these posts there are many heated exchanges about many different subjects because people have strong conviction one way or the other. I would remind them there
is indeed always 2 sides to any story and unless
you were actually present at the time the history was being made to remain openminded; time has a way of letting the light in.
Such it is with our county's long litany of foriegn entanglements. I would remind some whom have not served that everybody walking the planet
has a job to do. 5 star D.D.Eisenhower had a job to do; he took orders and followed them thru. We are able today to have these open discussions and share our views thanks to the hundreds of thousands of brave men and women who did not question. They had a job to do.
Always think before you act. Mindlessness never did any good. If you would have followed Sherman's Total War orders I'd say you deserved your day at the gallows.
ReplyDeleteI would caution you to not speculate on what has not come to pass. All things happen for a reason. In that same War there were hundreds if
ReplyDeletenot thousands of like instances that are under the heading of would've , could've or should've. From Lincoln to R.E. Lee and any one
of said instance could've changed much - but now we're back to speculation.
"... thanks to the hundreds of thousands of brave men and women who did not question."
ReplyDeletePerhaps it is time for people in our military to wake up and question. To see what they have done in Iraq and Afghanistan is nothing more than mass murder.
That is unlikely to happen though.
In the words of Henry Kissinger:
"Military men are dumb stupid animals."
Like the late great Bill Hicks said do you ever notice that people that support death and killing are held up as heroes? The people that say we should all get along and live in peace .... BANG!!!! Dead.
ReplyDeleteWar is a racket. A business. A soldier's job is to create death and debt. To make an elite banker family more profit. That is all. There is absolutely no glory in it.
Every war is started on false pretenses. We don't 'owe our freedoms' to a soldier. At least no soldier ever fighting a foreigner since the revolutionary war.
WWI, WWII, Vietnam, Iraq-1, Iraq-2, Yemen, Pakistan, Afghanistan. All started via staged events by the elite.
Anyone who supports these invasions, occupations, killings; congrats you absorbed a shitload of propaganda to get there. We were taught how to invade and occupy by the people that control our military. The Israelis. We learned well.
That is also why Religion is so horrible. It justifies actrocities based on God's will. Which is insanity.
ReplyDeleteScripted insanity since the elite know religions like Christianity are myth, but use it to manipulate.
ReplyDeleteWOW ! I read this all like a bad nightmare - somebody is quoting Henry Kissinger? This: the jew who ordered and sanctioned the killling of both soldiers and notaries that got in his way
ReplyDeleteand practically left Chile for the vultures ( read Hersh & Hitchens Kissinger trial 2002 ) WOW
Perhaps 1:59 should have listened to Mother Theresa or perhaps Ghandi. And how in the hell would ever presume to know how any war is actually started ? were you there in the war room? Oh that's right' you read a line or 2 in newsweek !! gotcha.
Let's say do this - here in a month or 2 your bleedin' heart pals in Washington are gonna run out of options with one MR.Ahmadinejad. I will send B.O. to you for options. You can quote the selected round table some Mao or Kruschev with a light sampling from Hussien ( no! not this one ! the other one ) the one whose hero was Joseph stalin ( now there's a great one of monumental proportions) the other Hussien he mimicked ole Joe's tactics when he outright murdered several thousand sunnis in '82 I believe it was -- lined them up in front of their families - what a man!!
Anyway; when a NUCLEAR Mahmoud comes crawling out of the sand dunes the rest of here will sleep well knowing YOU yes YOU
Are doing what? I'm not sure; but I guarantee you from your response above:::: it's way wrong.
Fed stole 45 billion.
ReplyDeleteMy friends and I have photocopied 45 million for dumb sheep who cannot tell fake from real.