Thread: Good people of the USA- you are being Screwed.
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Old 15-03-2008, 12:45 PM   #6 (permalink)
Norton
Born Again Pagan
 
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Quote:
Originally Posted by Milkman
where does the Fed get this money
Quote:
Originally Posted by Hootad Binky
good question where does the Fed "get" money from: treasury bonds?
"Federal Reserve System income is derived primarily from interest earned on U.S. government securities that the Federal Reserve has acquired through open market operations. This income amounted to $36.452 billion in 2006. Additionally, income from fees for the provision of priced services to depository institutions totaled $909 million. The remaining income of $477 million includes earnings on foreign currencies, earnings from loans, and other income."

FRB: Press Release--Reserve Bank income and expense data and transfers to the Treasury for 2006--January 09, 2007
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