Economic Update – Treasury Auction
In this economic update, we spend some time talking about a recent treasury auction that almost failed. There have been clear signs in recent months that the nations which we depend upon to finance our debt are no longer willing to do so. China & Japan have reduced their Treasury holdings, and a recent auction of Treasury Bonds almost failed, needing record direct purchases on top of the huge Federal Reserve stated purchases. So who was it that stepped in to make these secret direct purchases?