WEB Notes: Yes, the supposed Federal bank, which it certainly is not prints US Dollars out of thin air and then make investments with those dollars. In other words, they cannot lose and some of those gains, will go to the banks….
You will recall from yesterday’s article how the banks always win and the little guy always looses and how could we forget when the banks were bailed out?
When was the last time you were bailed out?
The Federal Reserve’s income from operations in 2017 dropped by $11.7 billion to $80.7 billion, the Fed announced today. Its $4.45-trillion of assets – including $2.45 trillion of US Treasury securities and $1.76 trillion of mortgage-backed securities that it acquired during years of QE – produce a lot of interest income.
How much interest income? $113.6 billion.
It also made $1.9 billion in foreign currency gains, resulting “from the daily revaluation of foreign currency denominated investments at current exchange rates.”