By Daniel Kruger and John Detrixhe
The Federal Reserve will remain the biggest buyer of Treasuries, even after the second round of quantitative easing ends this week, as the central bank uses its $2.86 trillion balance sheet to keep interest rates low. While the $600 billion purchase program, known as QE2, winds down, the Fed said June 22 that it will continue to buy Treasuries with proceeds from the maturing debt it currently owns. That could mean purchases of as much as $300 billion of government debt over the next 12 months without adding money to the financial system. Full text
Comment: The surest way to destroy civilization is the destruction of the nation's monetary system. In earlier times this has often happened incidentally, now, we see it done systematically.
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