Fed buys $2.99 billion in Treasurys

In an effort to keep interest rates low the Fed has continued to create money and buy US bonds in the open market . We are seeing foreigners become net sellers of US debt recently and if the Fed does not step in with a bid interest rates will move significantly higher. The increasingly record amounts of Treasury debt being issued is finding fewer buyers and the Fed is forced to buy that debt as well. Can inflation and a currency crisis be avoided? I don't see how, history shows us that deficit spending and massive money creation almost always leads to inflation, hyper-inflation, currency collapse, shortages of basic goods and civil unrest. The best protection is monetary metals, gold and silver.-Lou

Fed buys $2.99 billion in Treasurys

NEW YORK (MarketWatch) -- The Federal Reserve Bank of New York bought $2.999 billion in Treasurys maturing between 2021 and 2026 on Wednesday, its latest operation in a program intended to keep a lid on borrowing costs. Dealers submitted $11.707 billion to the central bank to buy. The amount purchased was the same as at the Fed's last buyback in the same maturity range. Treasury yields remained lower on the day, pushing prices up. Benchmark 10-year note yields /quotes/comstock/31*!ust10y (UST10Y 3.66, -0.02, -0.65%) fell 6 basis points to 3.63%.