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SPDR S&P 500 Message Board

  • fed_up_c_ws fed_up_c_ws Nov 14, 2013 11:54 AM Flag

    Has anyone asked her how the FED will deleverage their balance sheet

    What I believe is lost on the average American and probably most of the brain-dead zombies who comprise our wonderful congress, is that loans allowed to "roll off" the balance sheet, i.e, mature, are an indirect and probably illegal TAX, as the resulting payouts are transferred to the Treasury, having been previously acquired by issuance on of new money. This is a tax because it increases the money supply and therefore reduces the purchasing power of your earnings and savings (it would not be a "tax" if the FED at some future date were to sell the bonds and retire the money originally issued to buy them). In a similar and more egregious manner, MBS purchases by the FED, which have bailed out the too big to fail banks, are probably worth considerably less than par, maybe pennies on the dollar. I believe these will allowed to quietly go away, what little money acquired at maturity will of course be transferred to Treasury (this is already happening and ironically has "reduced" the budget deficit) - but people please remember this is your money being used to do this. You are being fleeced, the FED is picking your pocket!!

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