- Posted October 15, 2013 by
This iReport is part of an assignment:
Fear at Major Banks Grows
The Tbill rate of the 13 week Tbill went up 350% today, verses last week. This shows the fear that bankers have of not being paid back, what they lend the government.
What is also very significant about this weeks auction is that the fear has spread to Tbills that come due in 2014. Last week the fear was mainly seen in Tbills coming due in 2013. This suggests that the Bankers see the problems lasting into the new year.
On Bloomberg radio, a guest mentioned that one of the biggest banks in the USA was no longer a holder of Tbills.
This begs the question is Ben at the Fed the biggest buyer?