- Lindsey Williams : The FED Now Owns your HOUSE !
Lindsey Williams on Goldseek Radio 18 Sept 2012:
After QE3 or QE to infinity the FED is Now the owner of your mortgage , they own your home says Lindsey Williams . The Federal Reserve announced last week that it will start a Mortgage-Backed Securities Purchase Program , it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month in a third round of quantitative easing. The Fed is expanding its purchases of agency mortgage-backed securities as opposed to just buying more Treasury bonds.These bonds are backed by cash flows from mortgages guaranteed by the likes of Fannie Mae and Freddie Mac (remember them?) as well as the less-troubled Ginnie Mae.By buying $40 billion more in agency mortgage-backed securities every month, the Federal Reserve will become the majority owner of all of these assets. Roughly $120 billion to $125 billion are issued each month. The Fed already was purchasing about $25 billion a month.