The Department of the Treasury (USDT) said Wednesday, Sept. 9, that it would buy back up to $6 billion of long-dated government debt – triple its normal operation size – in an effort to support the market for U.S. government bonds.
The announcement came as stocks fell, long-term Treasury yields rose and Brent crude oil futures surged above $100 a barrel for the first time since July, according to market data cited in the announcement. The buyback campaign has been widely described by market observers as an attempt to cap soaring Treasury yields [2].
The move follows Treasury Secretary Scott Bessent’s Aug. 19 statement that the department would at least double its buybacks. Instead, the department said it would triple the operation, with future buybacks reaching at least $4 billion
SORCE: Link at bottom of article.
Starting about 1976 while I was still in high school I began telling anyone who would listen if the political whores in Sodom & Gomorrah on the Potomac did not stop borrowing and spending like a drunken sailor with a handful of credit cards in a titty bar, the end result would be the destruction of the middle class of America as the whores in the end would have to either outright default on US debt, or hyper inflate the currency to the point they would pay back fractions of a cent on a dollar borrowed in purchasing ability.
I explained either of these options would destroy the middle class and any person with any intelligence and understanding of how a country is run and is destroyed, the middle class is the backbone of any society.
The sheep called me crazy as the whores in DC assured them the borrow party never ends and the “free” shit road goes on forever.
I own up to being crazy by sheep designation.
I have a set of balls, never been a herd animal, refuse to kiss the ass of ass hole who are sold out evil mother f##kers and think for myself.
Look around you.
What I warned of as a teenager some 50 years ago is here.
Most of those I warned are dead, the ones still alive have long forgotten I warned them about what is taking bites out of their ass now, but they remember they decided I was crazy.
Sheep are for shearing and slaughter.
The shit hole world the sheep helped the evil f##kers make of America, the evil ones aided by the sheep may kill me in the end, but I will damn well be spitting in their face and dying on my feet unlike the sheep who will get on their knees and beg for a few more days as slaves before they are slaughtered!
The Ole Dog!