most of that Feds profit is the interest on bonds paid by the government so the Fed printed money out of thin air and bought government bonds, got interest, took its 6% and then paid interest back to the government or as you say to ME so I still own money to the Fed which just printed it, and Fed also took 6% from the interest
Not exactly. The Fed doesn't "take" anything from its income except operating expenses. Member banks don't get 6% of Fed profits. The Member banks get a fixed 6% return on the capital that they must "contribute" to the Fed in return for special "stock" as a condition of joining the Federal Reserve System. Any net profit after expenses flows directly back to the U.S. Treasury.
says who, FED and their Shills. Sorry I don't trust a word you type. I wouldn't trust you to tell me the sky is blue. In fact if you want to freak me out, tell me the sky is blue, I'll be all dubious and confused LOL
A good sense of humor, I like that. And you are right, never believe anything FED shills are writing. Heck, just to be on the safe side, we should believe just the exact opposite they are saying
@ Ucan'tEatBonds - let's say there is a USA financial meltdown of epic proportions (worst in US history) in 5 or 10 or maybe 15 years from today - and for a moment, let's say both you and i are alive to see the day. Let's also say we both have "ample means" set aside today, that would easily last us 30 years from today (if inflation held within the past 30 yr range). What action are you going to take (this coming year) to prepare you and your family for the day of reckoning? To guard against inflation / deflation or whatever comes. Just curious - I'm nearing retirement age for context.
Here is what you need, You need a secure location away from large groups of people. You need source of water and food. You need physical gold and little bit of silver, not too much You need source of guns and medical supplies. You don't need large amount of real estate, because it will be worthless like Detroit. You just need something to live in till collapse comes. Besides you'll be moving. You don't need to hold any large amount in bonds stocks or other kind of paper. Gold should not be kept in bank security box, Argentina 2001, Yugoslavia 1991, security boxes were claimed by banks OVERNIGHT, would same happen in USA, you better believe it. You don't need large amount of paper cash. So what I am saying is this, live the modern city life like everything is normal and golden age is upon us. But prepare plan B and get it ready in 2-3 months just in case you gotta go. Because for all we know, true collapse of USA won't happen till 20 years from now, so you don't want to live like a hermit till you have to. Just my 2 cents
And i thank you for the summary - sounds like a plan! I have most of those bases covered already - i live in the countryside in one of the sparsest populated states. I have no physical gold - might consider it. In a worst case scenario, a small flock of chickens (for eggs) would be one of the best investments a family could have.