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Comment: 6% of the Dividends are paid to private sharehold (Score 1) 514 514

by Dan Ferguson (#20761213) Attached to: The History of the Federal Reserve
This is the think most people don't seem to understand about the Fed.

1. The Fed does make a profit (Interest, national debt).
2. 6% of the profit earned by the Federal Reserve is paid in dividends to the twelve member banks each year.
3. The twelve member banks have private shareholders (usually private banks) profiting heavily at our expense.
4. In one year the 6% dividends were over $350 Billion.

If people wanted to find out the real value of the dollar then we could stop the Fed from tacking on interest to "made up currency" and make up $10 trillion and pay the national debt in one shot. Unfortunately, I think most people would be shocked at how little that dollar would be worth then.

Loan-department manager: "There isn't any fine print. At these interest rates, we don't need it."

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