The Government...they Should Love Us.

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Author	Replies: 7 / Views: 1,610
Stevo-Aus New Member Australia 10 Posts	Posted 03/20/2017 02:31 am Hey all, So looking at documents from the Federal Reserve I see that most of the assets they hold in collateral for liabilities (which includes Federal Reserve Note's) are US Treasury bonds. This collateral asset pile sits earning interest for the Fed who after expenses is required by law to give at least 80% back to the American people (And by "American People" they mean the US Government of course). So since we collectors as the people who hold banknotes for the longest are earning them more interest than anybody, why does the Government not love us! As an under-represented cash-cow community I propose we lobby the Government for something in return. I suggest free samples of new banknotes be posted out to us each quarter, purely to foster our collections of course Now who's with me? Report this Post to the Staff

spru Bedrock of the Community United States 12477 Posts	Posted 03/20/2017 03:16 am I'm most likely wrong but, I don't remember anything about the Federal Reserve Bank having to "give back" anything. The Fed is not a government agency and that's why it loans notes to the government in exchange for Treasury bonds with interest. If anything is to be given back, it will have to come from the U.S. government. My favorite quote: "The Federal Reserve is about as "federal" as Federal Express." In Memory of Crazyb0 12-26-1951 to 7-27-2020 In Memory of Tootallious 3-31-1964 to 4-15-2020 In Memory of T-BOP 10-12-1949 to 1-19-2024 Report this Post to the Staff
oriole Pillar of the Community Canada 5241 Posts	Posted 03/20/2017 06:48 am It certainly can't hurt to get free samples. I'd sign the petition except that I am Canadian! Report this Post to the Staff
Coinfrog Bedrock of the Community United States 94367 Posts	Posted 03/20/2017 5:20 pm to the CCF! Report this Post to the Staff
Stevo-Aus New Member Australia 10 Posts	Posted 03/22/2017 12:11 am spruett001 Section 7 of the Federal Reserve act covers what the Fed does with it's earnings if you want to read it (however may I suggest you don't as reading legislation is about as fun as having a rash). I was incorrect in saying that 80% is legally mandated it's just the approximate average rate in recent years. The Fed itself isn't allowed to keep more than $10 Billion in its surplus funds account after paying dividends to member banks (which were recently cut down in favour of donating to infrastructure projects). In 2016 $111 Billion was made in interest by the Fed and $92.7 Billion of it ended up being handed to Treasury (About $285 per citizen) You are right in that most of this is being paid by the US Government on interest bills to begin with only to be given back a few months later. Even so it's interest free debt for the government anyway so they should still send us free samples Report this Post to the Staff
Stevo-Aus New Member Australia 10 Posts	Posted 03/22/2017 12:27 am oriole I'm Australian myself, however I feel fully entitled to free samples since: 1. I've collected FRN's since I was a kid. 2. The IRS knows my name and address and has no problems taxing income from my US stock investments. 3. I'm strong in the force. Report this Post to the Staff
Stevo-Aus New Member Australia 10 Posts	Posted 03/22/2017 12:30 am Thanks Coinfrog! Report this Post to the Staff
spru Bedrock of the Community United States 12477 Posts	Posted 03/22/2017 02:29 am Quote: if you want to read it (however may I suggest you don't as reading legislation is about as fun as having a rash) and I think you understated it! In Memory of Crazyb0 12-26-1951 to 7-27-2020 In Memory of Tootallious 3-31-1964 to 4-15-2020 In Memory of T-BOP 10-12-1949 to 1-19-2024 Report this Post to the Staff
	Replies: 7 / Views: 1,610

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