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MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.

Fed QE extracts record interest income from the economy

Posted by WARREN MOSLER on December 27th, 2012

And they call this ‘easing’…

Stone & McCarthy (Princeton)–According to our estimates the Fed will earn nearly $90 bln in calendar year 2012. Of this amount about $87.5 bln will be repatriated to the Treasury, which represents a new record high. Probably about $1.6 bln will be used to pay dividends to member banks, and another $1 or so is likely to have been paid in surplus.

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