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| Subject: Excerpt from article | |
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Author: Allen Currie |
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Date Posted: 07:35:09 02/13/13 Wed This just out on the 8 of Feb. I found the beginnings on Sinclair’s site, jsmineset.com FED HAS BOUGHT MORE U.S. GOV'T DEBT THIS YEAR THAN THE TREASURY HAS ISSUED Here is the link: http://cnsnews.com/news/article/fed-has-bought-more-us-gov-t-debt-year-treasury-has-issued Here are the appropriate links referenced in the article. http://www.treasurydirect.gov/NP/BPDLogin?application=np Federal Debt outstanding as of the end of the calendar year 2012: 16,432,730,050,569.12 Federal Debt outstanding as of February 6, 2013: 16,479,954,658,103.57 Amount of Increase in Debt: 47,224,607,534.40 If I did my math correctly, the size of the Federal Debt increased $47.224 Billion since the beginning of the year. http://www.federalreserve.gov/releases/h41/Current/ Now look at the Fed Balance sheet holdings of US Treasuries over that same period. Fed Treasury Holdings as of Wednesday, January 2, 2013: 1,666,118 Fed Treasury Holdings as of Wednesday, February 6, 2013: 1,717,182 Amount of Increase in Fed Treasury Holdings since the beginning of the year: $51.064 Billion That is $3.879 BILLION MORE than the US Treasury has issued this year! Again, I have no idea how this is supposed to be possible but the numbers are what they are. Scotty beam me up. We are freakin’ doomed! ******************* The reason is simple. To “manage” interest rates the US must interfere in the market place. Interest rates are artificially low now, and the price of bonds is artificially high. In “managing” the market they either buy or sell bonds at their determined price. In this case the US has to buy anything offered at their specific price to avoid the price dropping which would raise interest rates. Some people who want out of the US Dollar (Probably China) have worked this out and are dumping their bonds at auction time. Additionally, if the US doesn’t buy, the auction will be a failed auction, and THAT would definitely rattle the market of “the worlds reserve currency” The end is nigh. [ Next Thread | Previous Thread | Next Message | Previous Message ] |