Those Big, Beautiful Bonds

Those Big, Beautiful Bonds Authored by Robert Aro via the Mises Institute, The U.S. Government sells debt on a revolving door basis, yet most people aren’t aware of the mechanism by which this is done. Luckily, ZeroHedge covers the debt auction results, which allows us to articulate one of the structural problems in the Federal Reserve system. As reported last week: The week’s lone coupon auction priced at 1pm when the Treasury sold $13 BN in 20Y paper, in a solid if not stellar...