Ineverlie&I'malwaysri
Joined: 09 Aug 2011
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 Posted: Fri Nov 18, 2011 1:14 am Post subject: Fed Edges China as Owner of US Debt |
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Note how the author of this piece is ignorant of the difference between the federal government and the privately owned Federal Reserve Bank.
Fed Edges China as Owner of US Debt
The federal government now owns the biggest slice of the national debt, edging ahead of China, as the debt hit a record of more than $15 trillion Wednesday and continues to rise.
The Federal Reserve reported that it has doubled its holdings of U.S. debt between 2010 and 2011, $812 billion to $1.665 trillion, reports CNSNews.com. Chinese-owned U.S. debt is valued at $1.1483 trillion. China decreased its holdings from 2010 levels of $1.1519 trillion.
China owned nearly $340 billion more in U.S. debt than the Fed did in Sept. 2010. The Fed has reversed that, and now owns $516.7 billion more than the Chinese. |
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