17 Dec
2003
17 Dec
'03
11:17 p.m.
Date: Sun, 07 Apr 1996 12:20:11 -0400 From: Perry E. Metzger <perry@piermont.com>
whatever makes no difference to the amount of fake interest earned. I say "fake interest" because it isn't real income to the government at all.
When the Fed buys government bonds, the interest income goes to the owners of the Federal Reserve Bank. The Federal Resreve Bank is _not_ a government agency - it is privately owned by the member banks..