Obama Announces MyRA - Retirement Savings Accounts in US Treasuries- Fed Exit Strategy?
That’s why, tomorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: MyRA… MyRA guarantees a decent return with no risk of losing what you put in . President Obama – State of the Union Address 2014.
The Fed, who in recent years has been purchasing between 60-80% of the newly issued U.S. Treasuries, has been struggling to find an exit from QE realizing that the world’s U.S. bond investors (primarily China and Japan) would not tolerate perpetual printing and debasement of the U.S. Dollar. We have often speculated on this blog that exiting from QE would collapse the stock and real estate markets and hence the recovery, and therefore a clean break from QE would not be possible, UNLESS an alternative buyer of U.S. Treasuries could be found.
Last summer we noted that the new alternative buyer could be....
https://smaulgld.com/obama-announces-myra-retirement-savings-accounts/
