Pretty self explanatory
1. The Fed prints money
2. The Fed buys Agency Securities from Foreign Governments at face value through the Fed Custody Account
3. The Fed sells Treasury Securities to Foreign Governments in the Custody Account
4. The Fed prints money to buy Treasury Securities
5. The Moon is a Balloon
http://www.chrismartenson.com/blog/shell-game-how-federal-reserve-monetizing-debt/25806
Monday, November 30, 2009
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