NY Fed buys $989 million of U.S. agency debt

NY Fed buys $989 million of U.S. agency debt

www.reuters.com

The New York Federal Reserve said on Friday it bought $989 million of U.S. agency debt with maturities ranging from October 2016 to June 2018.

Dealers submitted $3.302 billion of agency debt for consideration in the purchase.

Friday's operation brings the N.Y. Fed's cumulative purchase of agency debt to about $164.759 billion since early December 2008.

The N.Y. Fed, which conducts open market operations for the U.S. central bank, has said it would buy about $175 billion of agency securi

(visit the link for the full news article)

Paying a credit card with another credit.
Do what we say not what we do.. lol

Audit The Fed!


Seriously, not only audit them END THEM!

Not only pay a credit card with another one but pay it with printed money out of thin air.
But here it's the american people buying the debt in terms of currency value, which causes prices to increase.
Ok prices don't increase but the value of money decreases.

I can't believe Bernanke got a get out of jail card and is getting another term.

Wow!

Mobsterism!

www.reuters.com
(visit the link for the full news article)

cant comment, too angry... must abstain from... cursing, and throwing computer at fed building...



Audit... the damn FED!

What is U.S. agency debt? The article doesn't really specify. It acts like it isn't a big deal since the cumulative total is $165 billion.

I guess if we have an endless supply of credit cards we can keep paying off one with the other.

Audit the FED!!! So we can find out WTF is happening.

OR

At least start printing money and give it to the people, not random debts racked up over and over again by agencies, where the billions of dollars don't mean anything but numbers on a page.

If this keeps up the sh*t will hit the fan so hard it will be blown back at the population.

reply to post by tooo many pills


Agency debt is Fannie Mae and Freddie Mac bonds. Even though the .gov is currently backstopping this paper through the treasury it clearly states in it's prospectus that this is not "full faith and credit" asset.

Agency debt would I believe also include Ginnie Mae paper, though it is full faith and credit paper. There are probably a couple more types of paper considered agency paper as well.

If the Fannie and Freddie (phoney and Fraudie) were to be "full faith and credit" debt. The national debt would go up by several TRILLION overnight.