– 40% Of The Fed’s Interest On Excess Reserves Is Paid To Foreign Banks:
Now that Congress is finally scrutinizing the $4.5 trillion elephant in the room, it may be interested to know that approximately 40%, or $838 billion in reserves parked at the Fed belong to foreign banks. This means that the Fed is giving a $10 billion (and rising) annualized subsidy to non-US banks every year.
* * *
PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP