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Originally Posted by aico
2) Congress is working to stop the M3 report. The M3 report is the report that allows us to know how much money the Fed prints every year, it's what keeps them in "check", without that report, we will not be able to track how much they print.
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Your statement couldn't be farther from the truth. The M2 is the report that shows how much money is in play in the US. It is used by most people who watch the money supply as an indicator of the economy.
The M3 is just the M2 plus Eurodollars and repurchase agreements. Eurodollars is not money in play in the US and a repurchase agreement usually is only in play for very short periods of time. The M2 has always been the report of choice.
Nonetheless, those with tin foil hats on about this could simply calculate an M3 themselves as the data to do so is still readily available.