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Originally posted by nydsdan
What I find most interesting is that they declare a profit but that is all generated internally, isn't it? I mean, the Fed will NOT be audited, so we do not know how they cook the books. I have heard all sorts of accusations that the Fed has purchased something around 80% of US Bonds in 2009.
That could be rumor, but the fact remains that this number could be pulled out of thin air (just like Federal Reserve Notes) and there is nothing we can do about it but take their word for it.
At least the Fed is not asking for a bailout. lol.