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  • thelccsi May 22, 2014 3:33 PM Flag

    The Great Deceiver — The Federal Reserve

    Paul Craig Roberts and Dave Kranzler

    Is the Fed “tapering”? Did the Fed really cut its bond purchases during the three month period November 2013 through January 2014? Apparently not if foreign holders of Treasuries are unloading them.

    From November 2013 through January 2014 Belgium with a GDP of $480 billion purchased $141.2 billion of US Treasury bonds. Somehow Belgium came up with enough money to allocate during a 3-month period 29 percent of its annual GDP to the purchase of US Treasury bonds.

    Certainly Belgium did not have a budget surplus of $141.2 billion. Was Belgium running a trade surplus during a 3-month period equal to 29 percent of Belgium GDP?

    No, Belgium’s trade and current accounts are in deficit.

    Did Belgium’s central bank print $141.2 billion worth of euros in order to make the purchase?

    No, Belgium is a member of the euro system, and its central bank cannot increase the money supply.

    So where did the $141.2 billion come from?

    There is only one source. The money came from the US Federal Reserve, and the purchase was laundered through Belgium in order to hide the fact that actual Federal Reserve bond purchases during November 2013 through January 2014 were $112 billion per month.

    In other words, during those 3 months there was a sharp rise in bond purchases by the Fed. The Fed’s actual bond purchases for those three months are $27 billion per month above the original $85 billion monthly purchase and $47 billion above the official $65 billion monthly purchase at that time. (In March 2014, official QE was tapered to $55 billion per month and to $45 billion for May.)

    Why did the Federal Reserve have to purchase so many bonds above the announced amounts and why did the Fed have to launder and hide the purchase?

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    • and what is amazing is the financial media does not report this news. The fraud in this country has eclipsed any other nation. The banksters have bought the politicians, the media, and everything else. Blankfein and JP Diamond are running the US government, and the white house and the congress are working for them. The whole thing will eventually blow up soon.

    • Also the flood gates have been open and how are they going to hide the fact that almost every country out there is selling those bonds?

    • Easy answer and that is this they need to show the world that their (our)bonds are still wanted and there is a willing buyer at any given moment!
      Otherwise they would know what we know that they are worthless!
      Kind of like the fed having Germany's gold its all laughable!
      If they had it they would have let them inspect it instead of telling them they cant see what is theirs!

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