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« Write The Caption For This Pic Of Bush, Paulson & Bernanke | Main | Update: MERS Spokesman 'Declines Comment' To CNBC On CEO Stepping Down - WSJ Has Now Pulled The Story »
Friday
Jan212011

Fed Buys $20 Billion More This Week: That's $320 Billion In Treasury Debt Monetization Since August - And Counting 

Friday...

NEW YORK (MarketWatch) -- The Federal Reserve Bank of New York bought $8.36 billion in Treasury debt on Friday, adding to the $312 billion the central bank has bought already since August.  The buybacks are part of the Fed's second round of quantitative easing, and include purchases made under a previous program to reinvest cash from its maturing mortgage-related holdings back into Treasurys.  Dealers offered to sell the Fed $18.959 billion in debt maturing from 2018 through 2020.  After the announcement, the broader bond recovered its small gains from earlier.

http://www.marketwatch.com/story/fed-buys-836-bln-in-bonds-treasurys-resume-gain-2011-01-21

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Thursday...

NEW YORK (MarketWatch) -- The Federal Reserve Bank of New York bought $2.2 billion in inflation-linked Treasury debt on Thursday, adding to the $309 billion the central bank has bought already since August. The buybacks are part of the Fed's second round of quantitative easing, and include purchases made under a previous program to reinvest cash from its maturing mortgage-related holdings back into Treasurys. Dealers offered to sell the Fed $8.169 billion in debt maturing from 2028 to 2040.

http://www.marketwatch.com/story/fed-buys-22-bln-in-debt-treasurys-stay-down-2011-01-20

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Wednesday...

NEW YORK (MarketWatch) — Treasurys edged between minor gains and losses after the Federal Reserve Bank of New York bought $7.7 billion in debt on Wednesday.

The operation was the latest of the Fed’s second round of quantitative easing to support lending and spending.

http://www.marketwatch.com/story/bonds-yields-edge-up-before-fed-buyback-2011-01-19

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Reader Comments (5)

So what is the dollar amount owed by the American people of interest that we now owe them for first "printing", and then "buying" this public debt into existence?
Jan 22, 2011 at 1:14 AM | Unregistered CommenterS. Gompers
THIS IS A MUST SEE AND FOLLOW.

Unposted Inspector General Reports Showcase SEC Misconduct

http://pogoblog.typepad.com/pogo/2011/01/un-posted-inspector-general-reports-showcase-sec-misconduct.html

[snip]

To be sure, some of the OIG’s investigations were previously disclosed by reporters and Members of Congress, especially Senator Charles Grassley (R-IA), and the OIG regularly summarizes its investigative work in semiannual reports to Congress. But since the reports are still conspicuously absent from the SEC’s website, we thought it would be handy to compile them in one place.
Jan 22, 2011 at 9:24 AM | Unregistered Commenterjohn
Santa Barbara seeks to turn the tables on the homeless

Officials hope to realign sidewalk benches so that pedestrians can avoid encounters with the homeless. Some say the money would be better spent on aiding the needy.

http://www.latimes.com/news/local/la-me-santa-barbara-benches-20110121,0,7575749.story
Jan 22, 2011 at 1:19 PM | Registered CommenterDailyBail
@gomp...

interest on the debt is what you're asking about...?....i'm sure i can find the figures somewhere for 2010...but the way i always think about it, and quantify it in my head, is to take the total national debt and then slap a 4% or 5% cost on it and that gives you a fair idea of what was paid in interest for whatever year...

so, going forward...we will have a $20 trillion national debt by 2015...assume a 4% interest cost and you get $800 billion...assume 5% and you get 1 trillion...

so by 2015, interest on the debt will be larger than EVERY SINGLE other federal gov't expenditure...

and now imagine higher borrowing costs than 5%...say 7%...then the nightmare scenarios start to creep in...
Jan 22, 2011 at 1:24 PM | Registered CommenterDailyBail
Hmmm

The FED just changed its accounting proceedures. In a nutshell all of this "debt" is being charged right back to the US treasury. Yes folks the FED is STEALING OUR MONEY, giving it away by the trillions to their friends, and then.....through an accounting slight of hand putting
all that debt right back onto the taxpayers. TALK ABOUT TAXATION WITHOUT REPRESENTATION. IT IS TIME THE AMERICAN PEOPLE STARTED REFUSING TO PAY ANYMORE INCOME TAX UNTIL THE FEDS CHARTER HAS BEEN REVOLKED. AND ALL THAT DEBT RETURNED TO THE FED AND THEIR BANKS.
Jan 23, 2011 at 9:18 AM | Unregistered CommenterDDearborn

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