This is a terrible article by somebody who obviously has no clue about the function of the treasury market and how it is managed in cooperation of the Fed and t

This is a terrible article by somebody who obviously has no clue about the function of the treasury market and how it is managed in cooperation of the Fed and the Treasury. The best status quo descriptions of how this market works tend to come from the Modern Monetary Theory school in economics. For a popular explanation, see e.g. http://pragcap.com/understand-the-modern-monetary-system/understanding-modern-monetary-system http://pragcap.com/understand-the-modern-monetary-system/und... and certain chapters of this: http://www.neweconomicperspectives.org/p/modern-money-primer.html http://www.neweconomicperspectives.org/p/modern-money-primer... As an additional benefit, the writing of the MMT people is enjoyably concrete and solid. When I read other sources on financial markets, I always feel as if the authors were describing some weird ununderstandable magic to me. Something that is not and should not be understood. MMT provides a refreshing alternative to that which seems to match up very well with all sorts of technical descriptions you can pick up from the Fed and Treasury itself.