March 01, 2006
Perhaps this is why --per BushCo decree-- the US government will no longer report M3 statistics starting next week. M3 represents the growth of the money supply. Without M3 figures the official inflation rate becomes even more deliberately understated. And maybe this is why the Fed this week asked Wall Street to create NewBank in case there is a financial crisis and the two big banks that clear a trillion plus dollars a day for the Treasury Department can't handle things?
Don't forget the new oil bourse -- quoted in Euros -- set up Iran the other day.
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