And about half of that trillion dollars a year was going to the Federal Reserve and being bought up in what's called quantitative easing. So The Federal Reserve was just buying this debt and they were great. They were the dumbest customer in the world. They bought the debt for very low interest and they just grew the Federal Reserve balance sheet because they don't play with real money and real financial concerns like you or I do or other investors do. (45:16–45:20)
CLAIM
Asserts that the Federal Reserve was buying debt during quantitative easing.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
