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Posted by AmanfromMars on 4/19/2011 4:46:32 AM

"The Fed sells the Notes and Bills for the Treasury in Federal Open Market auctions. It receives payment in FRNs from the purchasers and passes those FRNs on to the Treasury. No Ponzi scheme here." .... Posted by Ingo Bischoff on 4/18/2011 11:48:52 PM

And whenever no one has any interest in buying such Notes and Bills in a failed auction, are they then extraordinarily rendered as sub-prime junk bonds ...... to be purchased with the handy QE facility?

Thanks for all the info, by the way, IB. It is most helpful.

http://thedailybell.com/2078/US-Is-Broke-Failing-But-Show-Goes-On.html
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