As per data provided by the Federal Reserve on 10/27/2008 the money supply has grown by 15.3% to now $2.12 trillion. I have become a little more cautious about data provided throughout the month, but this is unprecedented.
Aside from private checking accounts and currency, the most eyecatching number is the amount of money that the treasury is holding in federal reserve deposits: $106 billion. This is unprecedented. As far back as my data goes there has never been anything near this. The largest number ever thus far had been reported on May 5th 1997: $32.4 billion.
Is this the beginning of operation "Confetti the Dollar"?
Thursday, November 06, 2008
Money Supply Watch - Oct. 27th 2008 a.k.a Confetti the Dollar
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1 comment:
Thank you for this log entry. I'll add your website to my favorites. I think things are going to get very interesting with the current Presidential administration and the Fed--very disappointing, even maddening, but very interesting.
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