US Debt to GDP Passes 101%
February 24, 2012 Leave a Comment
Most people still think of China as buying our debt, but China is unloading U.S. debt.
The biggest buyer of U.S. debt is … the U.S. And not retirement funds and investment firms. The biggest buyer of U.S. debt is the U.S. Federal Reserve, AKA the people who print the little green pieces of paper in your wallet with dead presidents on them. They buy U.S. debt and pay for it with money they print out of thin air. What could possiblie go wrong?