Rand Paul: “The Federal Reserve pays both foreign and domestic banks to simply park their money in Fed accounts--in other words, to…”

“The Federal Reserve pays both foreign and domestic banks to simply park their money in Fed accounts--in other words, to not loan money at all. Over the past 5 years, the Fed's big bank bailout amounts to over half a trillion dollars. This bailout causes the Fed to operate at a loss, which means the Fed cannot remit profits to the taxpayer as it normally does. According to the economist Judy Shelton, if these payments stopped, ``banks would [buy] Treasury Securities,'' and it would bring interest rates down. Some people say that this program is a floor to interest rates. My amendment ends these subsidies. Let's end the Fed's big bank bailout. Let's lower interest rates. Please vote for my amendment.”