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The US privilege to create money for the whole world is being threatened (notably by the Chinese who hold the fate of the dollar in their hand and will kill it at the moment the see fit) and the disappearance (the hiding) of M3 is just a panic reaction to that threat...
Never quite understood all this M1, M2, M3 stuff...but I've heard enough not to trust the Fed anymore, especially after they created this real estate bubble and won't admit it. Don't really trust any of the central banks anymore.
Doesn't the USD lose certain credibility as a currency when accountability is ignored?
Seems that a number of us are looking at money (M1 - M3) these days. The growth is accelerating even when accounting for population growth.
If only our debt was being invested in productive ways rather than wasteful consumption.
See Nothing. Say Nothing. Hear Nothing.
Commenting by HaloScan
