The Federal Reserve System ceased publication of the M3 aggregate March 23, 2006

[bobthedrummer]

This is another indication of the magnitude of the CRIMINAL CONSPIRACY of the BUSH/CHENEY administration and a complicit CONGRESS.

If you agree with me on this, post your thoughts about this CONSPIRACY in this thread.

I've posted about components of this CONSPIRACY here since 2001-I need to hear what others have to say about it today.

Thank you.

Bob

[sakabatou]

1. Ok...

Mind telling us what the M3 aggregate is and what is has to do with the economy?

[bobthedrummer]

2. There is no money, it has been stolen by the CRIMINALS in the BUSH/CHENEY administration.

You ever take any Economics courses in school, sakabatou?

[shanti]

5. i believe it!

there will be NOTHING left! NOTHING! you are not alone, bob.

[bobthedrummer]

6. Economists were stating that fact at the end of 2004 shanti-I paid attention to them. Others didn't

[sakabatou]

7. Not in college, no

[ixion]

8. The M3, if I remember correctly, details how much money the Fed is printing

I remember Mogambo Guru really freaking out when they did this, and with good reason. They did it simply to hid their complicity in the problems we're facing now.

[Trekologer]

39. Its a figure that describes the money supply

M0 = all phyical currency in circulation (the cold, hard cash)
M1 = M0 (excluding currency stored in vaults) + amounts in demand accounts (such as checking accounts)
M2 = M1 + non-demand accounts (savings accounts, money market accounts, small time deposits such as CDs under $100,000.)
M3 = M2 + other CDs (greater than $100,000) and repurchase agreements

Most of the arguments against ceasing the publication of M3 center around the repurchase agreements. A repurchase agreement is where the Fed buys securities (such as T-Bills and T-Notes, but could be any other security--such as a mortgage backed security) where the seller agrees to buy them back. By not reporting M3, it could suggest that the government is just printing money hand over fist (reporting such would cause hyperinflation) or monetizing the debt (basiclly the same thing and equally as bad -- the government prints more money and uses it to buy its debt from itself).

Now the Fed said that collecting the data to calculate M3 is too expensive and wasn't used to determine moneyary policy anyway. You decide.

[TroutMaskReplica]

3. Morgan and Goldman crashing _ NOW!

MS 18.54, -10.16, -35.4%)
GS 101.88, -31.13, -23.4%)

Can someone please start a thread?

[bobthedrummer]

4. This can be an omnibus thread for the CRISIS unfolding in realtime...

[TexasObserver]

9. Yes, they conspired to hide a key component of knowing the money supply.

Because they don't want to cause the dollar's value to drop further.

[bobthedrummer]

32. And now they are manipulating whatever is available in the "emergency" gold supply

think about that one in depth TexasObserver in the context of the archived Octafish thread below and the fact that Edwin Pauley (head of the American Delegation to the Allied Reparations Commission) "failed" to return the wealth recovered from the Axis.

"Heir to the Holocaust How the Bush Family Fortune Is Linked to the NAZIS" (started 5-16-2008)
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3294979

[earth mom]

10. * & Co are robbing this country blind. It's beyond obvious now.

:grr:

[robertpaulsen]

11. Bob, have you read shadowstats.com?

They cover the M3 aggregate. The analysis John Williams has done there is particularly shocking:


HYPERINFLATION SPECIAL REPORT



Issue Number 41

April 8, 2008

__________



Inflationary Recession Is in Place

Banking Solvency Crisis Has Opened First Phase of Monetary Inflation

Hyperinflationary Depression Remains Likely As Early As 2010

__________



Overview

The U.S. economy is in an intensifying inflationary recession that eventually will evolve into a hyperinflationary great depression. Hyperinflation could be experienced as early as 2010, if not before, and likely no more than a decade down the road. The U.S. government and Federal Reserve already have committed the system to this course through the easy politics of a bottomless pocketbook, the servicing of big-moneyed special interests, and gross mismanagement.

The U.S. has no way of avoiding a financial Armageddon. Bankrupt sovereign states most commonly use the currency printing press as a solution to not having enough money to cover their obligations. The alternative would be for the U.S. to renege on its existing debt and obligations, a solution for modern sovereign states rarely seen outside of governments overthrown in revolution, and a solution with no happier ending than simply printing the needed money. With the creation of massive amounts of new fiat (not backed by gold) dollars will come the eventual complete collapse of the value of the U.S. dollar and related dollar-denominated paper assets.

What lies ahead will be extremely difficult and unhappy times for many. Ralph T. Foster, in his "Fiat Paper Money" (see recommended further reading at the end of this issue), closes his book’s preface with a particularly poignant quote from a 1993 interview of Friedrich Kessler, a law professor at Harvard and University of California Berkeley, who experienced the Weimar Republic hyperinflation:

"It was horrible. Horrible! Like lightning it struck. No one was prepared. You cannot imagine the rapidity with which the whole thing happened. The shelves in the grocery stores were empty. You could buy nothing with your paper money."

more...

http://www.shadowstats.com/article/292

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=114&topic_id=39838

[crickets]

13. I've been reading up on this too

I'm no financial wiz, but I found these two links informative and interesting:

http://www.dailykos.com/story/2005/11/11/16272/574
The Fed plans monetary inflation
by gjohnsit
Fri Nov 11, 2005 at 01:27:02 PM PDT

http://www.financialsense.com/fsu/editorials/mchugh/2005/1114.html
THE FED ANNOUNCES IT WILL HIDE M-3
TO KEEP YOU FROM KNOWING WHAT?
by Robert McHugh, Ph.D.
November 14, 2005


The second link seems somewhat fringe-y and inflammatory to me, but perhaps that is due to my lack of expertise. It would be great if others more knowledgeable would comment. Thanks.

[bobthedrummer]

15. "The Fed can electronically print money and hand it over to the PPT (Plunge Protection Team) to buy

this stock market. That has to be why all the extra M-3 growth over the past several months." from the McHugh link. Well, that can't be considered fringe today crickets-and all of US that paid taxes are being forced to assume the RISK of what these CRIMINALS are doing as well as what they'll do next.

Thanks for the Financial Sense link.

[crickets]

16. You're welcome, and thank you for the feedback.

If we're going to circle the drain, it's of some small comfort to at least understand why.

[bobthedrummer]

14. I hadn't seen this until your post, more sobering support of the basic facts-thanks!

[Greyhound]

12. It is a conspiracy and it is being carried out by this Junta, but the plan

was made about 40 years ago.

The consequences of the 1960s social awakening were that many people realized that, when unified, we have the power to change the social order and it scared the crap out of the parasites. This is the result of that shock.

Discontinuing the publication of the M3 was just a minor event in a long series of moves begun at least as early as 1968, but more likely 1966 with convincing Nixon to run and blocking out the progressives from the Democratic Party.

One thing about being my age is having watched this develop first-hand for my whole life.

[ProfessorGAC]

17. Apropos Of Nothing

The M3 is still very easy to calculate, and every accountant, banker, economist, econometrician, and stock broker knows how to do it. And the information needed to calculate it is still available in every quarterly Treasury report.

Not reporting it was made out to be a conspiracy to hide something, when in fact the same information is still readily obtainable.
The Professor

[bobthedrummer]

18. Considering the UNPRECEDENTED CRISIS in the markets and other events since BUSH/CHENEY were

installed a strong case is being made by documenting and researching the CRIMES and CONSPIRATORS of this CRIMINAL ADMINISTRATION. Ceasing publication of the M3 in the spring of 2006 is strong supporting evidence to many of US ProfessorGAC.

[coalition_unwilling]

20. Many DUers seem to conflate 'money' with 'currency' (as in, "The

Fed can simply print more money"). The Fed does not literally print currency. What it does do, by tinkering with discount and reserve rates, is to allow banks to create more (or less) money through the mechanism of making loans.

When a bank loans you money, they simply put a $ balance onto an account, in effect creating money where none existed before. The Fed has very little do with this process and absolutely nothing to do with the printing of currency (or stamping of coinage), should you decide to withdraw some of your loan from your account.

[JackRiddler]

21. Okay... so... why?

Since M3 is easy to calculate based on the other data, and since it was historically published by the government until 2006, why did they choose to drop this statistic from their calculations? It's clear enough that one cannot keep it secret, but what is the motive behind ceasing to highlight it?

And please help us out here. What has M3 done since 2006, compared to before? Where can those of us not as gifted in making the calculation of it ourselves find this information presented? Thanks.

[bobthedrummer]

19. ^^ ^^ ^^ ^^ ^^ ^^

[Poll_Blind]

22. Not publishing the M3 is one of the clearest indications that the...

...federal government has a clear idea just how bad the economy is, and just how bad it's going to get, and is desperately trying to defraud international monetary speculators (banks, foreign governments) by keeping them in the dark about how much money is really in circulation.

From the day they stopped publishing this number, they have been in commission of a crime of which this lack of reporting is a brightly-glowing, attention-getting indicator.

Really, the fact that most people don't understand what this is- because once you understand what it is it doesn't take an economist to figure out why they'd do it, is a shame.

PB

[bobthedrummer]

38. Malice aforethought, by design-a criminal conspiracy, not "market forces" at all-eom

[KoKo]

23. kick!

[bobthedrummer]

24. .

[annabanana]

25. When did they take food and fuel out of the CPI?

That's when I realized there was serious diddling going on...

[bobthedrummer]

26. They've cooked all the books annabanana-plus it's easier when it's electronic.

[bobthedrummer]

27. Who really knows how much gold there is in the "emergency" reserves?

Who has access to other sources of gold that is supposed to secure mortages?

[Kip Humphrey]

28. The US is bankrupt.

[bobthedrummer]

30. There it is...

[Greyhound]

29. Oh yes, this has been happening for a very long time.

Whether or not this is a conspiracy in the classic sense is irrelevant, the result is the same.
:kick: & R

[bobthedrummer]

31. kick

[bobthedrummer]

33. *

[bobthedrummer]

34. "I ain't gonna work on Maggie's farm no more..." kick

[bobthedrummer]

35. Don't forget the black budget networks-"UAE and BCCI>>>" (started by Stephanie 2-22-06)

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x490176

[bobthedrummer]

36. Lucy Komisar on AIG: "Cooking the Insurance Books" (Corp Watch November 17, 2004)

"A Decade of Lax Regulation Lays Groundwork for Scandal"

http://www.corpwatch.org/article.php?id=11657aig

Adam Smith's "invisible hand" is really a that of a THIEF.

[bobthedrummer]

37. ^$^$^$^$^$^$^$

[bobthedrummer]

40. They don't like to answer our questions, people-they don't like FOIA requests either

Annual Report on the Freedom of Information Act for Fiscal Year 2005
Board of Directors of the Federal Reserve System 2-1-2006
http://www.federalreserve.gov/GeneralInfo/FOIA/anrpt_2005.htm