Gary North is usually on top of matters when it comes to the Federal Reserve. This isn't pretty!
This report is from Fortune. It says that the Federal Reserve System made $51 billion in 2009, and it returned over $46 billion to the government.
The Federal Reserve System is not about making money at the expense of the government. It is about using a government-granted monopoly over money to regulate the economy to the benefit of a handful of large banks. This has always been its primary function.
The banking system is a cartel.
The Federal Reserve System is the cartel's protector and enforcer.
Make Gary a daily read. He's a pretty smart cookie!