Ever wonder what is on the FED's Balance Sheet?
After yesterday's POMO, the FED, with $821.1 billion, is now the #2 holder of US Treasurys after China. After the announced FED purchases through Nov 8, the FED will be #1 with $853 billion...surpassing China's $847 billion.
Swell. In effect the FED is buying it's own debt. Don't try this at home, it doesn't work any better than Congress raiding the Social Security cash-box and leaving USG IOU's to itself.
Treasurys are unsurprisingly tanking right now, and I rather expect them to drop off a cliff anytime now.
Sunday, 17 October 2010
The FED's Balance Sheet........from Rico
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1 comment:
I don't suppose you have a version of that chart that has high enough resolution to be legible?
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