(CNSNews.com) - The same day that the Federal Reserve's Federal Open Market Committee announced last week that the Fed would continue to buy $40 billion in mortgage-backed securities (MBSs) and $45 billion in U.S. Treasury securities per month, the Fed also released its latest weekly accounting sheet indicating that it had already accumulated more Treasuries and MBSs than the total value of the publicly held U.S. government debt amassed by all U.S. presidents from George Washington though Bill Clinton.
The federal government first took control of Fannie Mae and Freddie Mac on Sunday, Sept. 7, 2008. In its last weekly accounting sheet released before that, on Thursday, Sept. 4, 2008, the Fed said that it owned $479.726 billion in U.S. Treasury securities. That sheet did not even include a line item for mortgage-backed securities.
The Fed’s combined ownership of $3,391,826,000,000 in Treasury securities and mortgage-backed securities is now more than 7 times as great as the $479.726 billion in Treasury securities it owned five years ago before the takeover of Fannie and Freddie.
The President of the Dallas Federal Reserve, Richard W. Fisher. In a May speech at the Commonwealth Club of California, he states that the US national debt is close to $100 trillion. You can read his whole speech at the Federal Reserve web site.
If the Federal Reserve is 'buying', where does their 'money' come from ?
Or are they 'borrowing' from somebody else ?
Sounds like a big ponzi scheme con game.
Permit me to issue and control the money of the nation and I care not who makes its laws. — Mayer Amsched Rothchild
reply to post by Wrabbit2000
Not to fear, every thing is hunky-dory in the land of Oz. [/sarcasm]
Or at least to the sheeple that believe their dear ol' president.....
Yep, just keep drinking that delicious koolaid folks
Seriously, that is scary.
Who the hell really is in charge??
Whom owns whom?