Who gets the profits? The Fed, of course (banks). The Fed has never been audited in its entire history.
Reagan was all set to get rid of the Fed and he was almost murdered. JFK was all set to get rid of the Fed; he had already started printing greenbacks to avoid interest payments and he was murdered. He was killed on a Friday, the following Monday the Fed began withdrawing his competing greenbacks from circulation. Lincoln did an end run around the bankers and printed greenbacks to avoid interest payments and he was murdered. These bankers have been killing leaders who opposed their control of the money for centuries.
The Fed had net income of $55.5 billion in 2019. Who got the profit?
The Fed has never been audited in its entire history.
Here is a link to their 2018 and 2019 audits.
https://www.federalreserve.gov/aboutthefed/audited-annual-financial-statements.htm
Reagan was all set to get rid of the Fed
I don't believe you.
JFK was all set to get rid of the Fed; he had already started printing greenbacks to avoid interest payments and he was murdered.
That's weird, he ended $1 and $5 silver certificates and gave the Fed the power to print $1 and $5 FRNs. That made the Fed more powerful, that wasn't ending the Fed.
Who do you pay interest to for your FRNs?
He was killed on a Friday, the following Monday the Fed began withdrawing his competing greenbacks from circulation.
Dude! US Notes were issued until 1971.