# All That Remains Singer To Speak At 'Philly End The Fed Block Party'



## basquebromance (Aug 12, 2017)

i thought philly was liberal.

ALL THAT REMAINS Singer To Speak At 'Philly End The Fed Block Party!'


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## Fenton Lum (Aug 12, 2017)

Perhaps you shouldn't.


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## Toddsterpatriot (Aug 12, 2017)

Will they accept FRNs?


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## P F Tinmore (Aug 12, 2017)

Cool, the Federal Reserve is the biggest scam in our country.


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## Toddsterpatriot (Aug 12, 2017)

P F Tinmore said:


> Cool, the Federal Reserve is the biggest scam in our country.



Why do you feel that?


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## Montrovant (Aug 12, 2017)




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## P F Tinmore (Aug 12, 2017)

Toddsterpatriot said:


> P F Tinmore said:
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Congress has the authority to create US money.

So, if congress creates a dollar it has a dollar to spend. there is no debt. there is no interest.

If the Fed creates that dollar and "lends" it to congress, congress owes that dollar back with interest.

It is that simple.


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## Toddsterpatriot (Aug 12, 2017)

P F Tinmore said:


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*So, if congress creates a dollar it has a dollar to spend. there is no debt. there is no interest.*

During the Revolutionary War (Continentals) and Civil War (Greenbacks), printing in order to spend caused massive inflation.


*If the Fed creates that dollar and "lends" it to congress, congress owes that dollar back with interest.*

The Fed gives the interest back, less expenses, every year. It's that simple.


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## P F Tinmore (Aug 12, 2017)

Toddsterpatriot said:


> P F Tinmore said:
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Toddsterpatriot said:


> The Fed gives the interest back, less expenses, every year. It's that simple.


Link?


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## Toddsterpatriot (Aug 12, 2017)

P F Tinmore said:


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Federal Reserve sends record $97.7-billion profit to Treasury


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## P F Tinmore (Aug 12, 2017)

Toddsterpatriot said:


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So they give a little back of what they should not have had in the first place.


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## Toddsterpatriot (Aug 12, 2017)

P F Tinmore said:


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Over $650 billion since 2008.

Just a little, eh?


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## P F Tinmore (Aug 13, 2017)

Toddsterpatriot said:


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OK, how much did they take?


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## Toddsterpatriot (Aug 13, 2017)

P F Tinmore said:


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_
The Federal Reserve Board on Tuesday announced preliminary results indicating that the Reserve Banks provided for payments of approximately $92.0 billion of their estimated 2016 net income to the U.S. Treasury. The 2016 audited Reserve Bank financial statements are expected to be published in March and may include adjustments to these preliminary unaudited results._

_The Federal Reserve Banks' 2016 estimated net income of $92.7 billion represents a decrease of $7.6 billion from 2015, primarily attributable to a decrease of $2.5 billion in interest income from changes as a result of the composition of securities held in the Federal Reserve System Open Market Account (SOMA) and an increase of $5.2 billion in interest expense associated with reserve balances held by depository institutions. Net income for 2016 was derived primarily from $111.1 billion in interest income from securities held in the SOMA (U.S. Treasury securities, federal agency and government-sponsored enterprise (GSE) mortgage-backed securities, and GSE debt securities). Operating expenses of the Reserve Banks, net of amounts reimbursed by the U.S. Treasury and other entities for services the Reserve Banks provided as fiscal agents, totaled $4.0 billion in 2016. In addition, the Reserve Banks were assessed $700.7 million for the costs related to producing, issuing, and retiring currency, $709.0 million for Board expenditures, and $596.2 million to fund the operations of the Consumer Financial Protection Bureau. The Reserve Banks had interest expense of $12.0 billion associated with reserve balances and term deposits held by depository institutions, and incurred interest expense of $1.1 billion on securities sold under agreement to repurchase. Additional earnings were derived from income from services of $435 million. Statutory dividends paid to member banks totaled $711.5 million in 2016. No income was transferred to surplus due to the $10 billion aggregate surplus limitation as required by the Federal Reserve Act.

Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2016
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Take? Looks like operating expenses last year were $4 billion.


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