Posted on 06/22/2009 8:58:13 AM PDT by AngieGal
The buyback is the latest in the central bank's attempts to keep a lid on borrowing costs, though mortgage rates have jumped significantly in the last few weeks in spite of the Fed's efforts. After the buyback, Treasurys stayed higher, pushing yields on benchmark 10-year notes down 6 basis points to 3.72%.
(Excerpt) Read more at foxbusiness.com ...
Monetizing the debt just seems like a bad idea.
Milton Friedman has a lot to say about in his book “Money Mischief”. It is the best way to create hyper-inflation.
What a bunch of serious goofballs..........
The fed is snapping up everything at a staggering rate.There has got to be a day of reckoning for these thieves.
How does one know WHEN the Fed buying of Treasuries occur?
Seems to me that the Feds are more than happy to kill the average americans savings, and make paupers of us all.
Ba****ds!!!!
Of course the DOW is down, have to make the sheep run for the false cover of US debt for safety!! /s
It had been reported earlier The Fed had committed to buy $300 billion in Treasury Bonds this year in an effort to keep interest rates down. Basically they’re removing the bonds from the free market, keeping supply down. If there are a lot of bonds on the market, interest rates have to go up in order to attract buyers. With trillions and trillions in projected deficits, and the need to sell bonds to raise spending money and cover the debt, I don’t know how long this will work.
China is buying commodities instead of Treasuries. This is causing a drop. It appears we are trying to keep the rest of the world from knowing that our Treasuries are worth about as much as sub-prime mortgages today.
This will all catch up. It is possible some people are opening their eyes.
And we haven’t even begun the Prime Mortgage meltdown yet.
There is no possible good outcome from this.
The people in this government are not stupid. They know that what they are doing is setting up a catastrophic collapse. Now, why would they want to do that?
EXTRA! EXTRA!!!! READ ALL ABOUT IT!!!! SNAKE SWALLOWS OWN TAIL!!
Not very long I imagine. Our gov is acting so irresponsibly. I can’t believe anyone thinks this is good.
Oh boy, down from 3.78% to 3.72%. It was 2.4% six weeks ago.
There is a lot more going on here than meets the eye. If the fed buying treasury bonds is so very inflationary then oil, gold , silver, steel ect. would be up against the dollar. I do not think it matters that the perception is weaker if every other currency is weaker conpared to the dollar. ‘Ever notice that when there is bad news the dollar soars? What does this mean to you?
It’s not working, Ben. In fact, it’s beginning to backfire.
Let alone the Alt-A recast meltdown.
Then what is going on?
Because they can. It is all about money and power.
During “the great depression” ... the rich ended up with immense wealth ... they were able to buy property for a pittance. Truly tragic for poor people, and a travesty perpetuated by the rich.
Much the same thing is happening now. Legal theft on a grand scale.
Nothing to protect the people from having to pay it back, when they received nothing of benefit for it (all the monies).
Yep, they jus printed up some worthless cash and bought them T-Bills back so they can print up some more T-bills to cover the cash they printed to buy the last batch of T-bills....Yep, that’s what I call high finance! Duplicitous bunch of thieving morons....
Because it is.
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