The WSJ reports that Federal Reserve is now said to be thinking of issuing it’s own debt. The concept could include selling bills or some other form of notes. This would be the first time in history for such an action be taken. The mainstream media has already begun to sell the idea to the public citing that the action would give the fed more “Flexibility to stabilize the market.” No specifics as to how this would be achieved. Why would the federal reserve need to issue debt? Why does the “Lender of last resort” need to borrow money? They have monopolistic control over the US currency and print money at will. What would these new bonds be backed by? The full faith and credit of the United States? The federal reserve is independent of the Unites States.