I heard it on a radio broadcast from a financial analyst, I think the guy from one of the financial networks, who was talking about the real assets of the Fed, the US, and etc. He mentioned it as an aside.
If the Fed really has been coming out of their pocket in QE and QE2 at 85 billion a quarter, it does not take long to run 4 Trillion to zero. Makes more sense if they had 14 T anyway.
http://en.wikipedia.org/wiki/Quantitative_easing
Sounds like he made it up.
If the Fed really has been coming out of their pocket in QE and QE2 at 85 billion a quarter,
At the peak, QE was $85 billion a month.
it does not take long to run 4 Trillion to zero.
QE is increasing their assets, not reducing them.