7/9/08 Bill Bonner figures that currently, the U.S. money supply – as measured by M3 – is increasing at an annual rate of about 18%.
The Federal Reserve conspiracy theorists go on to argue that this is exactly the kind of monetary policy you'd expect from the world's greatest debtor nation. Use your credentials as a short-term inflation fighter to convince global savers it's safe to buy U.S. dollars and U.S. debt, while at the same time supporting the long-term inflation that will cut the future value of that debt and thus let the U.S. pay back its current debt in less-valuable future dollars.
On March 23, 2006 the Fed stopped publishing M3.
In November 2005 The Federal Reserve announced that as of March 2006, M-3 will no longer be posted.
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