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Federal Reserve Made Record Profit in 2009: Report
Reuters
Tuesday , January 12th, 2010
The U.S. Federal Reserve made record profits in
2009 and will return $45 billion to the U.S. 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.
Full
article here
"When the people find they can vote themselves
money, that will herald the end of the republic."
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INFOWARS:
BECAUSE THERE'S A WAR ON FOR YOUR MIND
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