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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (59838)	1/10/2010 5:53:54 PM
From: KyrosL	5 Recommendations Read Replies (1) \| Respond to of 218385

TJ you shouldn't believe everything you read on the Internet. Here is a pretty good description of the Fed. Read it to get some essential education. en.wikipedia.org A central bank must be independent of the government, or else it loses its credibility as the guarantor of the currency's value. As central banks go, the US Fed is excellent in its structure, as is proven by the long reign of the US dollar as the dominant reserve currency since the Fed was created. As for who gets the Fed's profits, you are terribly misinformed. The money distributed to the supposed private bank owners are nominal amounts -- compared to what the US Treasury gets. Here is a good description of what's going on from the article above. "All profit after expenses is returned to the U.S. Treasury or contributed to the surplus capital of the Federal Reserve Banks (and since shares in ownership of the Federal Reserve Banks are redeemable only at par, the nominal "owners" do not benefit from this surplus capital); the Federal Reserve system contributed over $31.7 billion to the Treasury in 2008."