Powell Admits: Federal Reserve is a Profit-Making Corporation

For more than a century, so called conspiracy theorists have been telling us that the Federal Reserve is a private company that rakes-in trillions of dollars in profits each year by printing money, manipulating interest rates, and dictating ever-changing monetary policies. Such great works as The Creature from Jekyll Island by G. Edward Griffin, and The Money Masters by Bill Still have painstakingly documented these facts. Yet the world is still under the delusion that the Federal Reserve is a government agency. Well, on March 6th, 2024, Federal Reserve Chairman Jerome Powell admitted, under questioning by the House Financial Services Committee, that the company he chairs does, in fact, make trillions of dollars in profits annually.

True Confessions

There it is. $100 billion dollars per year is paid to Treasury out of the Fed's profits. But just how much money that? Well, it's about half the net worth of Jeff Bezos or Elon Musk. But what percentage of the Fed's annual take is it paying in collection fees and commissions to Treasury?

Since no-one is allowed to comprehensively audit the Fed, the best we can do is use the figures available to us. So let's compare that 100 billion dollars to the portion of the Fed's revenue that comes from the interest payments it collects from the American people.

According to the Congressional Budget Office, Americans paid $640 billion in interest in 2023. If we divide the $100 billion into the $640 billion, we get 15.6%. OK, that's a fair share for a business to pay to its debt collection department. But remember: That's just a percentage of the profits earned from interest. What if we compare that $100 billion to the $34.5 trillion total debt held by the Fed? Dividing $100 billion into $34.5 trillion yields a percentage that is zero all the way out to the 4th decimal- a phenomenally miniscule cost of carrying debt that any business on the planet would love to have.

But wait. There's more.

Pathetic Excuses

Now imagine if your policies result in your customers losing trillions of dollars of purchasing power each year, and when you're questioned you get to give them this excuse and suffer no consequences:

"Oops! Our feigned incompetence got the best of us again." This excuse for what is either incompetence, or fraud and malfeasance, has been used by all Fed Chairs, from Greenspan, to Bernanke, to Yellen, to Powell. Astonishingly, even though any other CEO would be immediately fired and sued by shareholders, these thieves get rewarded with leadership positions in the most powerful financial department in government.

Since 1913, the Federal Reserve has controlled America's economy through multiple plandemics, attacks, wars, political upheavals, technological breakthroughs, and every possible threat, yet the cycle and outcome are always the same: The debt upon the shoulders of every American continues to increase- now at a rate of $1 trillion every 100 days. That's 10 billion dollars per day.

End The Fed

Perhaps it's time to take-up and finish the battle that Ron Paul began fifteen years ago: Put an end to the Federal Reserve.

Join the movement to restore your freedoms at PassageToLiberty.com.