The Federal Reserve’s holdings of US government debt have risen to a new all time high.
In data released Thursday afternoon, the Federal Reserve revealed that its holdings of U.S. government debt had increased to an all-time record of $1,696,691,000,000 as of the close of business on Wednesday.
The Fed’s holdings of U.S. government debt have increased by 257 percent since President Barack Obama was first inaugurated on Jan. 20, 2009, and the Fed is currently the single largest holder of U.S. government debt. (Read More)
Can you say “bubble”?
This from a man who testified before congress under oath on June 3rd, 2009 that he would absolutely not monetize our debt. He’s an absolute liar and has set the stage for an inescapable hyperinflationary period, IMO.
Printing forty billion a month in QE; loaning it out for next to nothing at the discount window to large banks that aren’t bound to loan it to qualified customer borrowers turn around and go to the Wall St. casino, bloc sector investing with the house’s money to fill their coffers and people wonder why the stock market is doing so well. It’s created a false economy and when the floor falls out, peoples’ 401ks, 403bs, IRAs and other nest egg products will fall with it, unable to serve their intended purpose except for the repayment of contracted debt. And the band plays on in DC.
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