Posted on 02/08/2013 4:47:06 AM PST by Former Proud Canadian
(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.
On Dec. 31, the total debt of the U.S. government was $16.4327 trillion and then-Treasury Secretary Tim Geithner announced that the government had hit what was then the legal debt limit. Last week, however, Congress enacted a law to suspend the federal government debt limit until May 18, 2013, and allow the administration to resume increasing the debt.
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.
(Excerpt) Read more at cnsnews.com ...
There seem to be a myriad of ways to “run the printing presses”, and the Fed is doing all they can to get them into practice.
A lot of these “dollars” must be double- and triple-counted in arriving at the apex of this Ponzi scheme. But hey, as long as computers do all their transactions in 1’s and 0’s, the reach is infinite.
Is there no “Off” switch?
Imagine a man on a treadmill. The treadmill is set to constantly increase in speed. Eventually, what happens?
The man can't keep up and he falls off. Have you ever fallen off a speeding treadmill?
Because it’s impossible to print all the money needed to monetize our greedy government, the U.S. Treasury is simply adding zeros on their computers now.
We’ve reached the point where our money isn’t as valuable as the paper it’s printed on.
Yup.
So, the Fed isn’t just propping up the primary bond market, but also the secondary bond market.
The Banks are buying the Country
This is the Endgame
Now the Banks will be our Lord and Master
And the Love of Money will become
The Great Evil we have been warned of
The Fed wants to drive interest rates negative. When you think about it, that is a wealth tax because the Government will effectively make $$ by issuing debt.
Apparently.
Money Laundering. That is all this is. Illegal Ponzi scheme. They go to banks and buy parking lots for a billion dollars, or “loan” a bank a billion that then loans it back, etc. Illegal accounting gimmicks. There is nothing propping up half the national debt anymore. Half of it is owned by somene else but half is owned by the very people that issue it. The national debt is the biggest bubble ever and will not just pop but explode like a nuke when it goes off.
The only blessing will be if it takes out the Federal government. Unfortunately, like the cockroach, the Federal government will likely survive while the economic blast destroys us.
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