Let's see. The Federal Reserve has loaned $4 trillion to the U.S. government to date. So for the privilege of loaning the U.S, government so much money the Fed feels obliged to pay the U.S. government $77.7 billion for the privilege of loaning free money to the biggest debtor nation in the history of the world. Fiat paper has become so meaningless and our mindless Kardashian fixated nation fails to even notice. Why take time to notice? Everything in the S&P 500 index seems to be going swimmingly fine!
Oh, I forgot! The Federal Reserve will eventually pull this free (QE) money back. That is their stated plan. Especially since the U.S. government hasn't paid back a single penny of it's debt in the last 35 years. Fed Reserve.....good luck with that!!!
DO NOT SELL YOUR PRECIOUS METALS INVESTMENTS ANYTIME SOON! The good times are about to roll.
"WASHINGTON (AP) -- The Federal Reserve said Friday it paid the federal government $77.7 billion in 2013. That was down from the record set in 2012 but still far above payment levels before the Great Recession.
The payments reflect a portion of the earnings the central bank makes from the Treasury bonds and mortgage-backed securities it has bought to drive interest rates lower to boost the economy.
The Fed is funded from interest earned on its portfolio of securities. After covering expenses, the Fed makes a payment of the remaining amount to the Treasury Department. The preliminary estimate for the 2013 payment was down 12 percent from a payment of $88.4 billion made in 2012." -- Yahoo Finance
"The Federal Reserve said Friday it paid the federal government $77.7 billion in 2013'[ for the right to give $ 5 trillion nearly interest free to the very banks which own it- and the only Cabinet officer to ever wind up in the slammer, Interior Secretary Albert Fall (of Teapot Dome Scandal notoriety) did so for accepting a $1 million interest-free loan (from Sinclair Oil, to grease the skids for their drilling in the Wyoming Strategic Naval Petroleum Reserve) Compare $ 1 million to $5 trillion, and copy this to all your friends.)
Sorry, I WAS sleeping. It was 4 am in the morning.
Thanks for watching this while I slept.
Thanks for the post!
Who would have thought that the Fed could have printed all that money with QEs and nobody would care.
Maybe one day my silver will be worth as many dollars as it was when I bought it...how's that for irony.
And I was up all night. Way too long. Quail, I believe that you live in stagecoach banking country. Safety deposit and storage boxes are being rented at full speed. Just about everyday there's an article saying that gold will drop more in 2014. Those behind these articles are manipulators. They see possible topping in some stocks (consumer) and assets, so they are starting to rotate some money into gold and silver. The rich are buying bars and coins on dips and want time in doing do.