Monday, August 31, 2009

Federal Reserve Made $14 Billion on Turmoil Loans


The Federal Reserve, the most secretive agency of the federal government, has apparently made a huge profit during the loan crisis of the past 2 years.

From Reuters:

LONDON (Reuters) - The Federal Reserve has made $14 billion in profits on loans made in the last two years, The Financial Times reported on Monday, citing officials close to the matter.

The U.S. central bank also earned about $19 billion from interest and fees charged to institutions that tapped liquidity facilities during the global financial crisis, the report said.


The question I have for the Fed is, how about giving that money back?

They took Trillion's of the taxpayers dollars to fix this "crisis" and now is the time for them to either give it back, or use it to pay down the national debt.

The time is critical now for the Federal Reserve to be audited. Look up H.R. 1207, the bill to audit the fed, and urge your Representatives to support this legislation.
Posted by at 8/31/2009 08:24:00 AM

3 Comments:

  1. Eh congrats you made 14 billion... but wait, isn't the national debt like a few orders of magnitude larger than that? This is like the Obama thing where he told his ppl to cut out 100 million from their budget... big woop, 14 billion down, several tril to go.
    ReplyDelete
  2. That 14 Billion goes to the Private Banks that encompass the Federal Reserve System. It does not go to the National Debt. The National Debt would be paid by the US Government not the Fed.

    Also, if the Fed paid the National Debt then they would charge Congress interest on anything they printed/paid.

    End the cycle of Debt... End the Fed!
    ReplyDelete
  3. now we know why they want an audit! so they can see how much more they have to SPEND!
    ReplyDelete

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