This is remarkable. The FED surpassed CHINA? Who the hell are these guys that they have wealth surpassing that of the world's 2nd largest economy? What have they PRODUCED that the United States now owes them such vast amounts of money???
This is unbelievable! Outrageous!
Thanks to quantitative easing the Federal Reserve has surpassed China as the largest holder of U.S. government debt.
June 9, 2011
Fed passes China to become largest U.S. creditor
blogs.marketwatch.com
The Federal Reserve has surpassed China as the single largest creditor of the U.S. government.
UniCredit’s Chief U.S. Economist Harm Bandholz is out Thursday with the details:
As a result of its asset purchase program (QE2), the Federal Reserve at the end of 1Q held about 14% of total outstanding federal debt (debt held by the public). It is, therefore, now the single-largest creditor of the US government.
According to separate data from the Treasury Department, China is ranked second. It owned in late March Treasuries worth USD 1,145bn, which is slightly less than 12% of the total amount outstanding.
After the Fed and China, the biggest holders of U.S. debt are
the household sector
Japan
state and local governments
and private pension funds.
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