The M3 figures – which include broad range of bank accounts and are tracked by British and European monetarists for warning signals about the direction of the US economy a year or so in advance – began shrinking last summer. The pace has since quickened.
The stock of money fell from $14.2 trillion to $13.9 trillion in the three months to April, amounting to an annual rate of contraction of 9.6pc. The assets of institutional money market funds fell at a 37pc rate, the sharpest drop ever.
“It’s frightening,” said Professor Tim Congdon from International Monetary Research. “The plunge in M3 has no precedent since the Great Depression. The dominant reason for this is that regulators across the world are pressing banks to raise capital asset ratios and to shrink their risk assets. This is why the US is not recovering properly,” he said.
Author of “Reparations and America’s 2nd Civil War
Reparations and America’s 2nd Civil War: Malensek, Scott: 9798864028674: Amazon.com: Books
We will always have enough money as long as we have trees. Money is printed on paper, paper comes from trees, we have plenty of trees, so we will have plenty of money.
………FDR-BO–the smell of liberty…. rotting.!!
I couldn’t tell you which story is true, butt this story is pretty much mutually exclusive from the previous one about imminent dollar collapse.
Maybe the recent drop in M3 has something to do with this: Fed to test new tool for withdrawing stimulus
So they basically printed $2.3 trillion and now they have to find a way to un-print it? Good luck with that…