[Tublecane]

“The Fed does not buy securities from the Treasury.”

This is something else I’ve never understood. I know that the Treasury prints the notes that the Fed ships out. I also know that the major assets of the Fed are its gold and its securities. I’ve never precisely understood from whom and with what the Fed buys the securities. It occurs to me that if the Fed owns Treasury securites, and I believe it does, it must have bought the securities from the Treasury.

[Toddsterpatriot]

This is something else I’ve never understood.

Another in a long list.

I know that the Treasury prints the notes that the Fed ships out.

The Bureau of Engraving prints notes. The Fed creates money without printing notes.

I’ve never precisely understood from whom and with what the Fed buys the securities.

The Fed buys Treasury Securities from Primary Dealers using newly created money.

It occurs to me that if the Fed owns Treasury securites, and I believe it does

You are correct.

it must have bought the securities from the Treasury.

Bzzzt, you are incorrect.