What their role should be and what they are actually doing are two very completely different things, hence the need for the Transparency Act.
The FED returned roughly 500 billion dollars earned in 2008 from interest to the US government which may seem like a lot but it is nothing compared to what they are taking in due to their "operational costs" which is the culprit/loophole.
The total interest earned for 2008 was around 2-2.5 Trillion dollars, leaving roughly 1.5-2 Trillion dollars which was simply stolen from the people.
By spending this money they do not have to claim it as profit and pay taxes on it. They do how ever get to buy jets, build skyscrapers and pay huge bonuses to executives.
Essentially they burn the money (Trillions every year) which should be funneled back into the country and do not pay taxes while using it either.
It is really not that hard to figure out and it's one hell of a nasty scam which has ruined the USA from it's inception.
If someone can provide a link or a US government balance sheet showing this excess of 2 Trillion dollars or so flowing back into the economy now would be the right time because as per 2008 the FED returned only 500 Billion of the 2.5 Trillion it earned in interest.
Where do you get your data from? The Federal reserve had a net income of $38.7 billion. They returned $34.6 billion back to the treasury. The payments to the Treasury equal net income after the deduction of dividends paid and of the amount necessary to equate the Reserve Banks' surplus to paid-in capital.
The US economic system is 50 Trillion in debt. The FED's then charge a 5% average interest rate on this debt.
=
2.5 Trillion
You can subtract the 6% dividend income that the federal reserve shareholders receive but can add the extra profits from transaction fees which more then covers the measly dividend.
The US government received 500 Billion from the US Treasury in 2008. Page 5 if you did not read the link before.
Definitely not for operating expenses I can assure you.
Jun-20-2009 19:59
culorut
Supreme tranceaddict
Registered: Jan 2007
Location: right here
quote:
Where do you get your data from? The Federal reserve had a net income of $38.7 billion. They returned $34.6 billion back to the treasury. The payments to the Treasury equal net income after the deduction of dividends paid and of the amount necessary to equate the Reserve Banks' surplus to paid-in capital.
I am not talking about what they tell you, we all know it is a bunch of shit. Anyone can post garbage from the federal reserves website like KFC.
Jun-20-2009 20:12
culorut
Supreme tranceaddict
Registered: Jan 2007
Location: right here
National Debt = Intragovernmental Debt + Public Debt.
Out of the 5.8 Trillion of public debt the Fed banks hold all of that debt which is used as collateral for printing money. Out of the 5.8 Trillion, 3 Trillion is owned by foreign governments.(http://www.treas.gov/tic/mfh.txt)
So basically foreign governments account for roughly 50% of the national debt (China, Japan, etc). The other 50% or so is owned by FEDERAL banks.
At a 5% interest rate this equals 1.25 Trillion dollars not including their transaction fees. They easily made 2 Trillion dollars through actual higher interest rates plus their transaction fees.
The FED's reported that it returned 500 Billion dollars back to the government on the 2008 balance sheet. So they kept 725 Billion dollars for operating expenses which again does not include their transaction fees.
Originally posted by culorut
I am not talking about what they tell you, we all know it is a bunch of shit. Anyone can post garbage from the federal reserves website like KFC.
Wow, you'r accusing the Federal Reserve of cooking the books, a serious crime. I knew you were full of shit a long time ago, but this takes the cake..
Jun-20-2009 21:26
DOOMBOT
Supreme tranceaddict
Registered: Sep 2004
Location:
quote:
Originally posted by Krypton
Wow, you'r accusing the Federal Reserve of cooking the books, a serious crime. I knew you were full of shit a long time ago, but this takes the cake..
lol
Jun-20-2009 21:29
culorut
Supreme tranceaddict
Registered: Jan 2007
Location: right here
quote:
Originally posted by Krypton
Wow, you'r accusing the Federal Reserve of cooking the books, a serious crime. I knew you were full of shit a long time ago, but this takes the cake..
Yes I am, you have a problem with it? Go ahead, call them up and tell them some guy on an internet forum is schooling a bunch of sheep on the scam that the FED's are. LOL
Just because you cannot understand (nor have the brains to figure it out yourself) the last few posts I made does not mean it is not correct. The FED owns you and everyone around you whether you like it or not Kryptoshit.
It is the perfect system to keep everyone in debt and in their control essentially. All this by using monies which are not backed by anything, just created out of thin air and then forced to pay interest on top of it!
The FED's are the ones are full of shit unless you believe that the Treasury is lying about how much money was returned to the government in 2008.
You have too much faith in this entity which uses the Mandrake Mechanism, it has failed and will continue to fail.
Jun-20-2009 21:54
Krypton
83.798 g/6.022x10^23
Registered: Nov 2003
Location: Texas
quote:
Originally posted by culorut
Yes I am, you have a problem with it? Go ahead, call them up and tell them some guy on an internet forum is schooling a bunch of sheep on the scam that the FED's are. LOL
Just because you cannot understand (nor have the brains to figure it out yourself) the last few posts I made does not mean it is not correct. The FED owns you and everyone around you whether you like it or not Kryptoshit.
It is the perfect system to keep everyone in debt and in their control essentially. All this by using monies which are not backed by anything, just created out of thin air and then forced to pay interest on top of it!
The FED's are the ones are full of shit unless you believe that the Treasury is lying about how much money was returned to the government in 2008.
You have too much faith in this entity which uses the Mandrake Mechanism, it has failed and will continue to fail.
lol, what a pathetic diatribe. You accused the central bank of the United States of accounting fraud, you fucking fraud...
Jun-20-2009 21:55
pkcRAISTLIN
arbiter's chief minion
Registered: Jul 2002
Location:
quote:
Originally posted by DOOMBOT
No, you are right. They exist and operate for the good of the country.
Fuck...
i asked you a question. are you going to answer it, or are you going to get in line with the other morons in this thread and admit you don't know how a central bank works or what it does?
quote:
Originally posted by ********
In addition to this.. whenever the US prints money.. it OWES that money to the reserve... and accumulates debt on it - thus needing to pay the reserve... meaning federal banks then profit from the creation of money ---- to offset the devaluation (inflationary markup) WHICH IS ALREADY offset by the reserve interest rate.
So in this effect the reserve can create money for the government... but then the government needs to repay it. But the value of the money decreases every time more money is made... and debt is perpetual. The reserve then continously generate profit and the Federal banks continously generate dividens.
lay off your shrooms dude. you have no idea how the central bank works. the federal reserve returns all profits minus expenses to the treasury because it is a federal agency. grow up or take a short course in economics instead of reiki healing.
___________________
Jun-21-2009 01:44
pkcRAISTLIN
arbiter's chief minion
Registered: Jul 2002
Location:
quote:
Originally posted by culorut
The US economic system is 50 Trillion in debt. The FED's then charge a 5% average interest rate on this debt.
=
2.5 Trillion
You can subtract the 6% dividend income that the federal reserve shareholders receive but can add the extra profits from transaction fees which more then covers the measly dividend.
The US government received 500 Billion from the US Treasury in 2008. Page 5 if you did not read the link before.
