Who owns the most US treasuries?

US Treasuries held by The Feder Reserve and the US Money Supply, 2003 to 2012

Most folks believe that China is the single largest holder of US Treasuries. That’s not the case – as of September, 2011 China only held $1.1483 trillion of US Treasury securities. Who held the rest?

The chart above shows holdings of US Treasury securities held by The Federal Reserve (blue line). The red line shows how they’re financing these purchases. In other words, the sharp increase in America’s money supply largely been used to purchase US Treasuries.

It’s called monetising debt and its hardly sustainable.

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