Fed Passes China in Treasury Holdings (Soon Fed will hold more than China and Japan Combined)

No wonder Geithner called in all the Treasury secretaries for a dinner meeting this past Sunday.....The Federal Reserve has surpassed China as the leading holder of US Treasury securities even though it has yet to reach the halfway mark in its latest round of quantitative easing, according to official figures....

TRANSLATION: No one wants (or can afford) to buy The US Treasury bonds (bonds are sold to finance deficit spending)....so the treasury sells them to the FED for less than face value plus interest....its like you buying your own IOU's with your own IOU's you just printed....nothing from nothing in this case is DEBT YOU OWE!
Had Enough Yet?? Half the world is in the streets protesting while we set on our butts watching the Stupid Bowl!

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