Fed Claims to Make Money

It is laughable that the Fed is using the banks' game of marking up worthless assets and claiming to have made record profits and talking about how great their programs were. This is such a mockery. All those "profits" are paper profits and are not real. Besides they are very subjective and we kow there are bubbles in a lot of areas of the market, mainly in the stock and fixed income markets. If the fed tried realizing profits on these positions, they would just crash the markets and we'd be where we started - not to mention we will eventually end up lower than that thanks to the creature from Jekyll island. Fed is doing more damage than good for this country. The people of this country are better of without such an evil and manipulative formation that is privately owned by banks and the few men who controll them. Even calling the "public" banks "public" is a mistake as they are not truely in the hands of shareholders. How else, could we explain Goldman giving itself the ridiculous bonuses?? They did not ask if they could do that to the "owners" ie. the shareholders of the company. Just as people on the buyside say that "rather than Goldman being there for them, they -the customers- are there for Goldman", the shareholders are there Goldman rather than Goldman executives being there for the shareholders. This is an amazing situation and one that warrants dumping the shares of the banks and any bank that behaves like Goldman trading at a deep discount. That is of course assuming that Goldman among other banks is not bakrupt. That, too, would be a wrong assumption since even after such a manipulated rally as witnessed in 2009, Goldman and the other banks are still all bankrupt.

Mr. Doom Marc Faber seems to agree on the Fed's profits being meaningless and adds that "we are doomed" because of the Fed.

I highly recommend Eddie Griffin's book on the Fed: The Creature from Jekyll Island to learn more about how the Fed was formed by a bunch of bankers in secret and a lot of the horrendous things it did in the past.