the abyss

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Scary info #3

Journal Inquirer - Top Stories - 12/01/2005 - Federal Reserve money supply report is about to fall into the abyss
12/01/2005
Federal Reserve money supply report is about to fall into the abyss
By Harlan Levy

In a little-noticed decision a few weeks ago, the Federal Reserve Board said it would stop publishing its weekly M3 money supply number as of next March, although it will continue to publish M0, M1, and M2.
M0 is all coins and paper bills. M1 is M0 plus all checking accounts. M2 is M1 plus savings accounts, money market accounts, and certificates of deposit of less than $100,000. M3 is M2 plus all deposits, euro dollars, and repurchase agreements that are $100,000 and larger.

(A repurchase agreement is a short-term sale and subsequent repurchase of securities by a bank or other financial institution.)

M3 is the broadest measure of how much money is circulating in the U.S. at any one time. Unlike M2, M3 is the big stuff, the super-size deposits.

“M3 shows intervention and big money movements,” Bill King says in The King Report says.

But why should you care?

(snip)

“They know what’s coming — massive amounts of dollar creation to fund the worsening trade and federal government budget deficits,” says James Turk in the Free Market Gold & Money Report.

“There is only one reason for the Fed to conceal important monetary component information,” The King Report says. It’s “to cover up the truth about what the Fed, central banks, and the really big money are doing.”

(snip)

A possible market crash is only one reason for secrecy, McHugh postulates. “Is the economy closer to the brink than anyone realizes? Or is it politically expedient to goose markets? Do the corporate elitists want the big payback for backing the powers that be and insist upon a rising market into year-end?” he asks. “Do they see a catastrophe coming that will require hyperinflation to bail the U.S. out? Maybe.”