Martin Hutchinson, contributing Editor to Money Morning and retired investment banker, shares his analysis of the current Federal Reserve Bureaucracy.

Baltimore — (TFN): Did you feel it? Just a couple of hours ago, you went into debt for another $106. You never signed any paperwork or agreed to it – a handful of unelected officials took care of that for you – but you’re now on the hook for at least another Franklin.

Earlier today, the Treasury auctioned off yet another chunk of American debt. This time it offered seven-year bonds to the tune of $32 billion. In all, the nation will go in hock for yet another $118 billion this week.