Initial Claims, ECB Rate Hike & M3
Initial Claims 294K vs prior 279K, still under 300K and neither here nor there.
The ECB raised its benchmark rate 25 bps to 2.5% as the ECB's own data showed that M3 money supply grew by 7.6 percent in January.
This was faster than the 7.3 percent recorded in December and way above the ECB's target of 4.5 percent.
The sharp increase of both money supply and credit to the private sector were the main arguments used by the ECB to justify the last two rate increases.
Speaking of money supply according to the Fed, Jan M3 at $10261.3B, an increase of $92B in January. This was a gargantuan 12% of the annual total of $755.6 B which was an 8% increase in annual M3.
Next month the Fed will no longer report M3, making it difficult to determine how much the printing press has been running.
As all central bankers know, the best way to steal peoples money is while they sleep through debauchery of the currency.
We fully expect Benny and the Feds to crank up the press. God forbid if the value of money went up and caused deflation in asset prices.
The ECB raised its benchmark rate 25 bps to 2.5% as the ECB's own data showed that M3 money supply grew by 7.6 percent in January.
This was faster than the 7.3 percent recorded in December and way above the ECB's target of 4.5 percent.
The sharp increase of both money supply and credit to the private sector were the main arguments used by the ECB to justify the last two rate increases.
Speaking of money supply according to the Fed, Jan M3 at $10261.3B, an increase of $92B in January. This was a gargantuan 12% of the annual total of $755.6 B which was an 8% increase in annual M3.
Next month the Fed will no longer report M3, making it difficult to determine how much the printing press has been running.
As all central bankers know, the best way to steal peoples money is while they sleep through debauchery of the currency.
We fully expect Benny and the Feds to crank up the press. God forbid if the value of money went up and caused deflation in asset prices.
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