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Published On: Wed, Jan 13th, 2021

The Fed Sent $838 Billion in "Profits" To The Treasury In Past Decade

The Fed Sent $838 Billion in “Profits” To The Treasury In Past Decade

On Monday, the nexus of reserve currency helicopter money, the Federal Reserve, announced that it had sent $88.5 billion in so-called “profits” (i.e., interest income from all those bonds it “purchased” after creating digital money out of thing digital air) to the U.S. Treasury Department in 2020, a 61% increase from the previous year as lower rates held down the central bank’s interest expense despite the Fed’s unprecedented buying spree which boosted its balance sheet by over $3 trillion .

The Fed’s payments to the Treasury had fallen over the previous four years as interest rates rose, boosting the interest it paid on reserves, or money that private banks keep at the Fed’s regional reserve banks. The Fed also hilarious began shrinking its portfolio of assets, reducing its overall net income, an experiment which ended in catastrophic failure when it became clear that you can’t, in fact, taper a ponzi scheme as the Ghost of 1937 made an epic appearance in both Nov 2018 and then Read Full Article

Source: Zero Hedge via Feedburner

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