(CNSNews.com) – In data released Thursday afternoon, the Federal Reserve revealed that its holdings of U.S. government debt had increased to an all-time record of $1,696,691,000,000 as of the close of business on Wednesday.
The Fed’s holdings of U.S. government debt have increased by 257 percent since President Barack Obama was first inaugurated on Jan. 20, 2009, and the Fed is currently the single largest holder of U.S. government debt.
As of the end of November, according to the U.S. Treasury, entities in Mainland China owned about $1,170,100,000,000 in U.S. government debt, making China the largest foreign holder of U.S. government debt.
When Obama was inaugurated in 2009, the Fed owned $475.322 billion in U.S. government debt. As of the close of business on Wednesday, Jan. 23, the Fed owned $1.696691 trillion in U.S. government debt, up $1.221369 trillion during Obama’s first term.
Since Obama has been president, the publicly held portion of the U.S. government debt (as opposed to the “intragovernmental” deb the government has borrowed from federal trust funds such as the Social Security Trust Fund) has increased by $5,264,245,866,257.40. The $1.221369 in additional U.S. government debt the Fed has purchased during Obama’s presidency equals 23 percent of all the new publicly held debt the Treasury has issued during that time.
Read More at CNS News . By Terence P. Jeffrey.
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The Fed prints up phoney money backed by NOTHING and charges “interest” on it, which goes to the Elite! THAT is how the Elite STEAL from us. It comes out as yearly inflation.
The Treasury is the ONLY CONSTITUTIONAL institution that can LEGALLY create money and if it actually DID IT, instead of the Fed, it would be WITHOUT “interest” (extortion) so we’d SAVE BILLIONS
Obama doesnt give a hoot how much we borrow, in the coming 4 years, he will be out of office, and out of the country too…. relaxing in his bought and paid for mansion by the ‘smitten’ Democrats & Unions who so adored him, and who wanted him to have the finest of fine homes with the biggest golf course where he could dine and play golf with all his gay friends till way into sunset, then relaxing in his back yard drinking fine wine and laughing at the stupid people who bought this for him. He will have Secret Service guarding him till he dies, and will go down in HIS history books as the greatest President of all times. Just ask him…. no one knows him better than HE knows himself. Even his friends will vouch for that .
He will laugh at the next joker president cause he will have to somehow figure out how to pay for that 28 TRILLION he rang up in those past 8 years…..’ Wats of Wuck ‘ Mr. President of 2016 !!!