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Bernanke Leaves Fed with Record Balance Sheet of $4,102,138,000,000
Cybercast News Service ^ | January 31, 2014 - 4:21 PM | Ali Meyer

Posted on 02/01/2014 2:01:10 AM PST by Olog-hai

Retiring Federal Reserve Chairman Ben Bernanke, who was replaced by Janet Yellen as of today, is leaving the Federal Reserve with an unprecedented $4,102,138,000,000 in total assets on its balance sheet, up 391 percent from the $834,663,000,000 in total assets the Fed showed on its balance sheet when Bernanke took over as chairman in February 2006.

Much of the increase in the Fed’s assets has come in the form of U.S. Treasury securities and Freddie Mac and Fannie Mae mortgage-backed securities that the Fed purchased over the last five years in its attempts to stimulate the economy. …

(Excerpt) Read more at cnsnews.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: District of Columbia
KEYWORDS: bernanke; federalreserve; recordassets; stimulus

1 posted on 02/01/2014 2:01:11 AM PST by Olog-hai
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To: Olog-hai

Gee....do ya think this could be from all of the four+ years of the Fed spending (I don’t know if ‘spending’ is the right word for creating equity from nothing) $85 Billion dollars per month buying up T-bills and Mortgage Backed Securities in the market for QE II, III? Hmmm?

There still doing this, only at $75 billion (they got their credit card problem under control now it seems/s).

Frankly, I just don’t believe anything anyone from this government says any more.


2 posted on 02/01/2014 2:07:43 AM PST by Gaffer
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To: Olog-hai

When you can print money like a drunken counterfeiter I guess you can have as much as you like. Even if it’s worthless.


3 posted on 02/01/2014 2:20:47 AM PST by MagnoliaB
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To: Olog-hai

For those who don’t know——

China does buy our crap T-Bills anymore so the private (bankster owned) bank known as the Federal Reserve does. One day these banksters will squeeze the US Government on payment.

Said banksters already have the USG over a barrel. Go along with what we want or we stop buying thus forcing up your cost of borrowing thus forcing the FedGov to reign in spending. Meaning the Democrats don’t have the money to buy votes.


4 posted on 02/01/2014 2:25:43 AM PST by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
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To: dennisw
I remember reading that Red China will only buy T-bills in increments that don’t limit the ability of the jen-min-pi to appreciate in value. The only reason they were buying them was to gain influence in DC anyhow and subvert the federal government; I figure that the effort paid off for them.
5 posted on 02/01/2014 2:32:51 AM PST by Olog-hai
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To: Olog-hai; dennisw
Looks like China is still buying something: http://www.channelnewsasia.com/news/business/international/china-foreign-exchange/954890.html "BEIJING: China's foreign exchange reserves, already the world's largest, reached $3.82 trillion at the end of 2013, the central bank said on Wednesday, a new record. The end-of-year figure was up from the $3.66 trillion as of the end of September, according to data published by the People's Bank of China (PBoC)."

Some of that is euros as they have more or less the same relationship with Europe: they need to export their crap and to do that they need to keep the value of their currency low and to do that they buy dollars. Whether those dollars are T-bills or not hardly matters at this point given the Fed's humongous supply of T-bills and infinite supply of dollars.

At this point they really need to unload those dollars but the lesson from Japan is don't buy American owned assets if they are overvalued. I'm sure they have a lot of strategic investments including gaining more control in DC. One of their scouts set up an office in our pricey building although the side with the cheaper view. There are several reasons I can think of why they would have this office and probably some more I don't know about.

6 posted on 02/01/2014 3:35:43 AM PST by palmer (Obama = Carter + affirmative action)
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To: Olog-hai
My Take.
Figures can lie and liars can figure. . .
7 posted on 02/01/2014 3:37:57 AM PST by DeaconRed (ZERO: Resign now while you can. . . . . .)
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To: Olog-hai

Well, with one keystroke, one trillion dollars is created and put on the balance sheet. Do it 4.1 times and voila, 4.1 trillion dollars.


8 posted on 02/01/2014 3:55:49 AM PST by Bushbacker1 (Molon Labe! (Oathkeeper))
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To: Olog-hai

The Fed owns promise notes from the US government, and mortgages on over valued properties that won’t be paid off, and all that passes for assets that make the Fed richer.


9 posted on 02/01/2014 4:03:41 AM PST by pallis
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To: Olog-hai

Some day, his name will be a curse.


10 posted on 02/01/2014 4:20:45 AM PST by txrefugee
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To: txrefugee

The Chinese will refer to him one day as “Burn-Yankee”.


11 posted on 02/01/2014 4:23:18 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: Olog-hai

Wow the Fed must have made some GREAT investments to increase its “ assets” that much...../ sarc


12 posted on 02/01/2014 4:24:51 AM PST by Kozak ("Send them back your fierce defiance! Stamp upon the cursed alliance! To arms, to arms in Dixie!)
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To: Olog-hai

Assets? Yea, right. They pull funny money out of their butts, hand it to the Treasury, and right it down on their ledger as an “asset”.


13 posted on 02/01/2014 4:35:41 AM PST by SampleMan (Feral Humans are the refuse of socialism.)
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To: Olog-hai

Obama’s MYRA should start bringing in the walkin around cash soon at $10 a pop.


14 posted on 02/01/2014 4:37:34 AM PST by OrioleFan (Republicans believe every day is July 4th, Democrats believe every day is April 15th.)
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To: Olog-hai

and how much new money has he printed since Obama took office?????


15 posted on 02/01/2014 5:11:31 AM PST by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
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To: Olog-hai

Assets? ASSETS?????!!!!!!

It would be laughable, if it wasn’t so disgusting.


16 posted on 02/01/2014 6:04:45 AM PST by logi_cal869
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To: Olog-hai

What a racket. To be clear, this represents the money the FED did not have, yet invented to “buy” US debt. It means the FED is owed $4 trillion by the American people to repay money it lent, but actually never had to lend.


17 posted on 02/01/2014 6:05:32 AM PST by Sgt_Schultze (A half-truth is a complete lie)
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To: Olog-hai

So the taxpayers are on the hook for $4,102,138,000,000?
Plus many trillions more.


18 posted on 02/01/2014 2:02:26 PM PST by minnesota_bound
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