Reinko

To Have and To Hold: Why a Bailout Would Weaken the Dollar

To user 118015:

Did you know that the US Federal Reserve stopped publishing the M3 money growth? Here is the link in the H6 release:

www.federalreserve.gov.../

It is always funny to observe that when the ECB publishes her M3 money growth, there are always some Americans shouting that the dollar should go up because the Europeans have such tremendous large M3 money growth.

To understand how terribly far the Federal Reserve has gone from just normal economical reasoning let me quote the reason for stopping M3 money growth publications, quote from the link above:

M3 does not appear to convey any additional information about economic activity that is not already embodied in M2 and has not played a role in the monetary policy process for many years. Consequently, the Board judged that the costs of collecting the underlying data and publishing M3 outweigh the benefits.

Needless to say: This was under the Alan Greenspan watch of the FED... Ever in your life seen such a bunch of fools?