Follow the M3 money to hell

The Fed used to publish data on all three money descriptors. But for some strange reason (couldn’t be saving money as they claimed because they never save money), the Board of Governors of the Federal Reserve discontinued publishing data on M3 (which contain all data on M1 + M2 =M3) on March 23, 2006. M3 also included balances in institutional money funds, repurchase liabilities issued by depository institutions and Eurodollars held by US residents at foreign branches of US banks, in fact at all banks in the United Kingdom and Canada.

In other words, M3 tracked what the fat cats were doing with their bucks. You have to think, why would the Fed do this? Of all three categories, M3 was your best bet to track inflation, i.e., to monitor what the Free-Market’s “Invisible Hand” was picking from your pocket through inflation, sometimes called “the hidden tax” because that’s just what it is. When the government runs off some extra funny money rest assured it’s to spend it. And you get the tab.

Follow the M3 money to hell

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