Skip to comments.Bernanke Leaves Fed with Record Balance Sheet of $4,102,138,000,000
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 Feds 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 ...
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.
When you can print money like a drunken counterfeiter I guess you can have as much as you like. Even if it’s worthless.
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.
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.
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.
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.
Some day, his name will be a curse.
The Chinese will refer to him one day as “Burn-Yankee”.
Wow the Fed must have made some GREAT investments to increase its “ assets” that much...../ sarc
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”.
Obama’s MYRA should start bringing in the walkin around cash soon at $10 a pop.
and how much new money has he printed since Obama took office?????
It would be laughable, if it wasn’t so disgusting.
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.
So the taxpayers are on the hook for $4,102,138,000,000?
Plus many trillions more.