"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
Trader Dan's Work is NOW AVAILABLE AT WWW.TRADERDAN.NET
Federal Reserve adds $22 billion in Treasuries to its Balance sheet this week
In keeping with its theme: "One can never own enough US Treasury Debt", the Federal Reserve, the largest holder of US Treasury debt on the planet, added another $22 billion worth of Treasuries this past week, courtesy of the QE2 program.
While they were doing that, they continue to sell those Mortgage Backed Securities that they purchased under the QE1 program. They have sold nearly $170 billion worth of MBS's in the last 8 months. Apparently the proceeds are going to secure more Treasuries.
Since the beginning of December last year, the Fed has added an average of $25 billion worth of Treasuries to its balance sheet each week. At that rate, they will have added another $350 billion in Treasuries by the first week of June. That would bring the total Treasury holdings in their balance sheet to $1.55 trillion putting them very much on target to exceed the combined Treasury holdings of both China and Japan.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.