If you read this report from last week, Federal Reserve earned $45 billion in 2009, did it not occur to you that the way the Fed, Inc. does mathematics that the Fed, Inc. can’t won’t ever show a loss?
Of course not. That would go against their carefully cultivated air of mystery- as well as the pope’s (oopsy) Fed, Inc. chairman’s infallibility.
Currently, with a TRILLION DOLLARS of assets on the books, should these glorified bean-counters be forced (by who? the Fed, Inc.? Buhuhaha) to mark-to-market right now they might show a $500 BILLION DOLLAR loss.
So $45 BILLION is net negative.
By a large chunk.
Over the last 100 years the Fed, Inc. has used our money like it was their own. They’ve seeded the dismal science with thousands of bought-and-paid-for minions to spread the word and saturated the media with nodding adherents to give testimony. Gently whispering in the public’s collective ear that ‘we really really know what we are doing, really‘ when evidence to the contrary is all around, in triplicate (if they “would just freaking open their eyes” -Mish¹).
Ever wonder why the FOMC meets in private?
If the public saw the dressing gowns these financial tarts doll themselves up in for their by-invitation-only FOMC meetings (“money balls”) their authority would crash overnight.
Where’s a pap when you really need one?
The Fed, Inc. has been responsible for the Great Depression, dozens of recessions before and since, and is the sole architect and responsible party of THIS WORLD’s current predicament through the policy of easy money.
They desperately want everyone to believe they are IN CONTROL of the situation, but in fact they are out of control²… and this next one might be the one that does us- and them- in.
“There is no possible regulation that can stop a credit binge brought about by cheap money and fractional reserve lending that enabled Fannie Mae and Freddie Mac to borrow money into existence at will.
“Remember that the Fed that could not see there was a bubble, could not see there was a recession coming, and thought at numerous points along the way that the mess was “contained”. Even if regulation would have helped, the Fed was oblivious at the time. How can regulation help, when you cannot spot obvious bubbles?”
“Not only did the Fed enable the credit bubble, it blew the policy response. All it takes to prove that is another stock market plunge and credit crunch.”
“It remains true that the greatest injustices proceed from those who pursue excess, not from those who are driven by necessity.” -Aristotle