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?