How the Fed makes money and How much [Links selection]

Economics
#1

"The Fed Earned $80 Billion in Profits in Fiscal 2012"

The Fed is in a much better business than finding oil or making phones."The Federal Reserve sent about $77.7 billion in profits to the Treasury Department in 2013.
The Federal Reserve, after operational costs, is earning double the profits of Exxon Mobil ($44 billion) and Apple ($41 billion), and those two companies are doing a combined $600 billion in global revenues! "

"Before the Federal Reserve was created in 1913, there were over 30,000 different currencies floating around in the United States. Currency could be issued by almost anyone – even drug stores issued their own notes."

"Suppose you go to the bank and obtain a loan:- The bank gets a new asset (your note) and a new liability (additional funds in your checking account).- You have new money to spend, and the balance in your checking account, which is part of the nation’s money supply, is raised by the amount of the deposit."
http://www.ncpa.org/pub/ba611

"Money - whether its a tangible piece of paper or a number on a screen - is intrinsically worthless, yet it fuels the modern world"

“The Federal Reserve bank has never paid a dime in income tax and has never been audited, and a percentage of this private bank is owned (or controlled) by foreigners.”
“It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”

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