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Feds Bought More Debt Than Treasury Issued
sweetness & light
From CNS News:
Fed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has Issued
By Terence P. Jeffrey | February 7, 2013
(CNSNews.com) – So far this calendar year, the Federal Reserve has bought up more U.S. government debt than the U.S. Treasury has issued…
By the close of business on Wednesday, Feb. 6, according to the U.S. Treasury, the total federal debt had climbed to $16.4799 trillion—an increase of $47.2 billon for the calendar year.
At the close of business on Jan. 2, the Federal Reserve had owned $1.661 trillion in U.S. Treasury securities. By the close of business on Feb. 6, it owned $1.7172 trillion—an increase of $51.1 billion for the calendar year.
Thus, the Federal Reserve’s purchases of U.S. government debt in this calendar year have exceeded the Treasury’s net debt issues by about $3.9 billion…
Does this mean we are buying our own debt with printed money? How does work?
MORE http://sweetness-light.com/archive/feds-bought-more-debt-than-treasury-issued#.URcdvaVEHzM
"That Guy"
February 10th, 2013
Kinda like paying your credit card bill with your credit card.
Kenny Sullivan
February 10th, 2013
More like paying your credit card bill with your grandkids credit card.
Diann
February 10th, 2013
This house of cards is going to come crashing down around us.
The stock market will collapse like a souffle. What little retirement savings people have with be rendered worthless.
I hate these people. A loaded gun is pointing at the American People and these idiots keep waving it about with the safety off.
Kenny Sullivan
February 10th, 2013
Honestly, I do not understand the US monetery system. I have tried to educate myself on how it works, but like reading history, many authors just plain freaking lie and I gave up.
Left Coast Dan
February 10th, 2013
ZeroHedge has been monitoring this continually. Looks like all of our borrowing recently is out of thin air. Makes you wonder how inflation is so low…
Billy Fuster
February 10th, 2013
Is that why the loaf of bread I bought yesterday was $49?
Tim
February 10th, 2013
Socialist Germany did the same thing (1933).
Socialist Spain is doing the same thing.
Socialist Portugal is doing the same thing.
Socialist Italy is doing the same thing.
Socialists don’t believe money needs to exist. They mistake what money is and how it facilitates human interaction.
Our gov’t is infested with entrenched socialists.
Dr. Tar
February 10th, 2013
“Fed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has Issued”
Watch these jokers claim we have a surplus now.
One Notch Above a Congresscritter
February 10th, 2013
A surplus of debt. A surplus nobody wants and the Fed is getting it for dollars on the penny……
Stranded in Sonoma
February 10th, 2013
All the perplexities, confusions, and distresses in America arise, not from defects in their constitution or confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation.
– John Adams, letter to Thomas Jefferson, August 25, 1787.
Major Mal function
February 10th, 2013
There’s a reason the faux-Kenyan poofter is called Ogabe.