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Adrienne Gonzalez
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Adrienne has recently relocated to the Capital Wasteland (or the Washington, DC metro as it is known elsewhere) as she wanted a front seat to watch Rome burn.
My blog:
Jr Deputy Accountant
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  • The Federal Reserve is the United States' Largest Creditor, Not China
    Don't let the MSM tell you otherwise.

    $13,551,000,000,000 is what we owe in total to whomever, be that China or "Caribbean Banking Centers". To see to whom we owe what, the Treasury publishes this helpful little chart.

     As you can see by the chart, China is still the largest foreign holder of US Treasurys according to the Treasury. What you wouldn't know, by looking at the chart, is that an even larger holder of Treasurys (therefore, creditor of the United States) is, in fact, the Federal Reserve. That's right, China is not our biggest creditor, it's the Fed.

    Because I know those zeros can make it confusing (and likely on purpose since few among us are actually mathletes), let's translate that. The Fed holds $839,000,000,000 in Treasurys, meaning they have surpassed China as #1. Fantastic, ain't it? Don't be dumb and think owing them is any different from owing China, it's all a hostile foreign body as far as I am concerned.

    Read the rest here.
    Nov 10 2:37 PM | Link | Comment!
  • Is the Fed Preparing for War?

    While the Fed is busy shaking its own hand over its newly-discovered commitment to transparency, it's also buckling down for war. The unwashed masses banging down the fortress demanding answers? Nope. Lathered-up protesters hauling around End the Fed signs? Nah. Congressional idiots who have finally learned how to harvest brain cells in Petri dishes and insert them into their empty skull cavities? Haha, yeah right.

    Revealing the particulars of the Fed's Maiden Lane holdings (I, II, and III for those of you playing along at home) has left a giant gaping wound right in the Fed's gut and you better believe the rest of the world is going to go right for the infectious weak spot.

    While much of the Fed-watching contingent considered their upcoming Monday meeting a discount rate pow-wow (thanks to the Fed's own carefully-crafted announcement, obviously), JDA isn't afraid to wildly speculate nor put her neck out and say this is a strategy meeting more than anything else. As in defenses up and weapons ready for the assault that is about to be aimed directly at our esteemed central bank as a direct consequence of details revealed in the Maiden Lane release this past week. Wow that AIG thing really didn't work out in our favor did it?

    (read the rest via Jr Deputy Accountant)
    Apr 02 11:13 PM | Link | Comment!
  • Irony: Ben Bernanke Lost 29% of Assets in Stock Market Crash of '08
    Oh this is just too hilarious.

    In case you missed Bernanke's first go around on the economic pain train, let us take a look at his personal experience with the housing bubble his predecessor was so nice to inflate for him, shall we?


    Bernanke lives in Washington's Capitol Hill area in a four- bedroom, 2,600-square-foot house he bought new in May 2004 for $839,000. Almost four years later, it may not be worth any more, according to real estate records and local agents.

    Bernanke's timing wasn't the best -- values in the area peaked a year later -- and he is hardly alone among Americans living in an investment that's turned cold. His situation shows that the slump that began with distress in the subprime market is now engulfing wealthier neighborhoods, including some in the nation's capital.

    "Even though he's the Fed chairman, he's going to get hit -- but I think lot of people will in Washington,'' said William Wheaton, an economist at the Massachusetts Institute of Technology. The value of Bernanke's home "probably went up to $1.1 million and it's probably back down to $840,000,'' because prices in Washington just a couple years ago "got out of control,'' Wheaton said.

    And now Bernanke's at it again, this time frittering away his textbook royalties in mutual funds. WTF, Zimbabwe Ben?! Don't you know when to pull out?? If there is one man in a position to know which direction the market will turn, it is this guy and you are telling me he's down 29% on the year? Oh we are truly screwed, people.


    Federal Reserve Chairman Ben S. Bernanke lost money in the stock market last year as his holdings in annuities and other assets tumbled by as much as 29 percent, according to his annual financial disclosure forms.

    The filings, released by the Fed today, show Bernanke and his family owned $852,000 to $1.9 million in financial assets in 2008, down from $1.2 million to $2.5 million in 2007. The forms, published by the Office of Government Ethics, require officials to report only a range in the value of holdings.

    read the rest at Jr Deputy Accountant
    Tags: ben bernanke
    Jul 28 8:33 PM | Link | Comment!
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