Wow. Help me here. QE1,2,3, etc was the Federal Reserve buying bonds from the ________ in exchange for “cash” to stabilize the economy.
Did they buy bonds from the banks in trouble?
Did their newly minted cash go on the books of the banks so that they could lend?
Did these newly infused banks lend the money to me so I could get back on my feet in 2010? NO
Did the banks tell me my credit was bad because of the recession and that since said recession caused me to loose my income I did not qualify for a loan? YES
Did then said banks decide they could not lend and had all this money and didn’t know what to do with it so they bought stocks? YES
While I groveled in squalor and went further underwater screaming and dying for help from our Obama regime the rich got richer as the S&P went from 666 to 2500. Is this true? YES
And as the Fed bought bonds to the tune of $4 trillion our total debt increased from $10 trillion to $20 trillion under Obama. Is this true? YES
So do we owe $20 trillion US debt and $4 trillion Fed debt? A total of $24 trillion?
I don’t know.
SO WHY DON’T WE TRANSFER ALL OF OUR DEBT TO THE FED BALANCE SHEET?
Then if the Fed couldn’t pay they could go bankrupt like I had to. But they can’t go bankrupt. They can make more money legally!
As bonds, bills and notes come due they can just pay newly minted money.
So they could grow the money supply by retiring debt each year!
Hey Mr. President, you are the king of debt!
Give our debt (and all of Puerto Rico’s debt) to the Federal Reserve!
Let them worry about it because