The primary beneficiaries of growth in the Fed’s “Total Fed Reserve Balances” are … (drum roll)… Foreign Banks.
In America today, we have a Record 23,116,441 households on food stamps…
We just had 148,054 foreclosure filings in May (1 for every 885 households in the U.S.). There were approximately 23,000 bank repossessions (REOs) of family homes in May. And we currently have U6 unemployment hovering around 14%.
And the Fed was pumping up the “cash balance” for foreign banks in Q1…(??) Here are the charts (courtesy of Zero Hedge 6-10-13):
“Presenting Exhibit D – total Fed reserve creation and the cash held by domestic and foreign banks, as reported by the Fed’s weekly H.8 statement:
And Exhibit E – the direct correlation between cash holdings of domestic branches of foreign banks and the reserves created by the Fed. As the chart makes all too clear, all the Fed’s new reserves are going almost on a dollar for dollar basis to foreign banks!
By this logic it should also come as no surprise that total cash parked at Foreign banks operating in the US just rose to an all time record of $1.12 trillion, or more than all the cash held by domestic US banks, which was $100 billion less or $1.02 trillion. This was confirmed by the non-seasonally adjusted number as well, which too rose to a record high of $1.13 trillion up tom $1.1 trillion. Here is Exhibit F: total cash held by foreign banks in the US. (btw, NSA stands for Not Seasonally Adjusted, not this chart was created by the NSA)
U.S. citizens deserve equal treatment – in the form of direct credit extensions from the Federal Reserve. “Cash balance” growth for American families.
The Leviticus 25 Plan provides the mechanism for that targeted liquidity flow.