The Federal Reserve is now buying approximately $625 billion in U.S. treasury bonds, corporate bonds, and municipal bonds every week. That's nearly two and a half trillion dollars per month.
"At that rate, the Federal Reserve will own all outstanding U.S. public debt, federal and local debt, by September or October of this year. It will own all U.S. private and corporate debt by December," said Glenn Beck on Monday's radio program.
Glenn went on to explain that the Federal Reserve is already the largest single holder of U.S. government bonds, and will now open up to purchase junk bonds from U.S. companies that are in distress as well as mortgage assets.
"The fed also issued a new fund to buy U.S. mortgage assets from banks, pledging $200 billion per month," he added. "The U.S. Federal Reserve is now officially the largest landowner in the world."
But, it's not the Fed that's responsible for all this debt. It's you, the American taxpayer. And now the Fed is saying the U.S. economy might experience shutdowns every time there's a coronavirus breakout for the next two years.
Watch the video below to hear Glenn's daily coronavirus update with all the facts and stats you need to know:
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