Please go back and read that again.
As we have stressed repeatedly here on SilverDoctors, WHO DO YOU THINK WILL POSSIBLY PURCHASE just the $1.4 Trillion worth of new treasury debt for this fiscal year, NOT TO MENTION THE MASSIVE ROLLOVER VOLUME!!! We're talking nearly 40 billion a day folks!
Who would even possibly purchase $100 billion + a week worth of US treasury bonds!?!
China? They've been attempting to extricate themselves from the dollar since at least 2007!
Japan? They're liquidating US treasuries to help fund massive rebuilding required after last March's tsunami!
Europe? You're kidding me, right? Europe has spent 2 years trying to scrape together $80 billion to bail out Greece, you think they have the excess surplus to throw that at US T-bonds weekly?
The UK? They hold a total of $421 billion in US treasuries. That's roughly a month's worth of issuance at current rates.
THE ONLY ENTITY CAPABLE OF 'PURCHASING' TREASURY BONDS IN SUFFICIENT VOLUME TO EQUAL ISSUANCE IS THE FEDERAL RESERVE. PERIOD, EXCLAMATION POINT.
Now do you understand why QE MUST Continue to Infinity....AND BEYOND!!! ??
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