Tuesday, December 6, 2011

The phony debt crisis!



At a Treasury auction today of 4-week bills, investors were prepared to give the government over a quarter of a trillion dollars AT ZERO PERCENT INTEREST!

And they keep telling us there's a debt crisis and we need to cut the debt!

If this doesn't show how the whole debt thing is a total farce and a total propaganda lie, then I don't know what will.



5 comments:

Mario said...

bam!!!

Tom Hickey said...

Great one, Mike.

Ken said...

Where's the best place to go to see this?

Peter said...

How is this possible at all? Reserves pay 0.25%, why would anyone buy bonds at zero?

Ken said...

Because not everyone has access to a reserve account at the Fed, unless they're a bank. So if you have a bunch of dollars you want to stash safely, you need these bonds. FDIC cuts off at 250,000, so ordinary bank account would not be a risk free option.