The Fed’s Treasury Shell Game
Chris Martenson is mentioned in the article.
I had a feeling that this one would have legs . . . It was a truly masterful bit of sleuthing on Dr. Martenson’s part, with far-reaching consequences. At the same time that I read it with great admiration, I almost shuddered, as it could very well be the tipping point in a general realization that the dollar is in deep trouble. As someone previously noted (Investorzzo?), this piece of work will likely put Dr. Martenson up on many folks’ radar . . . . Both those who are glad that it’s been uncovered, and those who are not . . . . While I am in the first category, I could not help but note that this means that dollar collapse is just one step closer . . . .
Dr. Martenson also mentioned on Cryptogon.com, I call it a conspiracy site but actually he is pretty on target, just brings out the stuff people don’t want to think about.
There is also a reference and discussion of this on GATA site
Chris has received recognition for "The Fed Buys Last Week’s Treasury Notes" by Karl Denninger and many others as mentioned above. "Seeking Alpha" entitled their article, based on Chris’s work, "The Fed’s Treasury Shell Game."
As revealing as this article may be, his newest article; "The Shell Game – How the Federal Reserve is Monetizing Debt." (subscriber section) is much more important as it digs deeper into the mechanics of how the Fed is monetizing the debt. I can’t say any more about it as it is understandably a "paid subscriber" service.
I can say this with certainty, the new article alone is worth more than the price of the monthly subscription service. If you haven’t read it yet, do yourself a favor and pay the $30 for one month’s subscription. It is the most revealing article I’ve read in a long time and the timing is critical as Chris discusses the "trip wires" that may trigger abrupt and negative changes, possibly very soon.
I never get to read enough. Here is an article that came out July 16th that confirms some of the deceit that is going on. It may connect with what Chris wrote about.
The USGovt financial stewards must deal with multiple huge rocks, as each month produces new auction volume. So the answer to the riddle appears to be HIDDEN MONETIZATION. If foreign central banks used their own money, a strong USDollar response would surely have come, since the volume of the USTreasury auctions each week is larger than the typical monthly volume a year ago. Would the USFed set up accounts in foreign locations for the purpose of bidding on its own USTBonds secretly? Obviously yes. They already set up vast USDollar Swap Facilities last October in foreign locations. This ugly deception will leak out in time. Besides, the declining IMF reserves data seems to contradict the USFed claims of not monetizing. The impact will be felt upon the USDollar initially, since the weaker sister of the incredibly ugly Siamese Twins will be vigorously defended like the Alamo. That would be the attached USTreasurys.