Asleep at The Wheel - Hyperinflation??
Another reason to fear hyperinflation in the near term... A tip o the hat to Mark Kraft's Insomnia for posting on the disappearing M3 statistic. Key excerpts follow...
"by not reporting the M3 money supply, the Federal Reserve, central banks, and large financial investors can secretly manipulate the markets through large investments, or, in the case of the Federal Reserve, can print more money and use that money in ways to artificially stimulate the economy."
"This change has led several independent financial investors to speculate that the Bush administration and the Federal Reserve will be working together to devalue the US currency in order to pay off US debt and stimulate the economy, while at the same time, by decreasing the value of the dollar relative to foriegn currencies, essentially increasing the price of overseas goods in order to reduce the trade deficit."
"This may trigger a bad headache for consumers, bringing about levels of inflation that haven't been seen in decades."
"by not reporting the M3 money supply, the Federal Reserve, central banks, and large financial investors can secretly manipulate the markets through large investments, or, in the case of the Federal Reserve, can print more money and use that money in ways to artificially stimulate the economy."
"This change has led several independent financial investors to speculate that the Bush administration and the Federal Reserve will be working together to devalue the US currency in order to pay off US debt and stimulate the economy, while at the same time, by decreasing the value of the dollar relative to foriegn currencies, essentially increasing the price of overseas goods in order to reduce the trade deficit."
"This may trigger a bad headache for consumers, bringing about levels of inflation that haven't been seen in decades."
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