Monetary Matters
I received an email about monetary matters and it has a new and interesting twist as to why the whole Immigration Amnesty Debate (especially the well-funded well-attended protests) was scheduled during this time. The act/actions of the protestors was/were deliberately scheduled to take place now, to divert attention from this massive printing/devaluation of the U.S. Dollar. Since I think that whatever Congress does there is always a "hidden agenda", I kept reading because this seemed plausible to me.
Anyway, the email went on to say, that Six months ago, the Federal Reserve quietly announced that as of March 20, 2006, they would no longer publish "M3" Data. The"M3" was the amount of cash the government printed to put into circulation, propping-up the U.S. economy, which means there is no way for anyone to gauge how much a "dollar" is truly worth.
Rather interesting don’t you think?
So, I googled "M3" and true enough, the federal government is discontinuing this practice. According to the information compiled at Wikipedia, Congressman Ron Paul introduced H.R. 4892 in an effort to reverse this change. I wonder why Congressman Ron Paul is trying to institute a bill to reverse this change especially since this report released from the Federal Reserves says M3 doesn’t convey any additional information about economic activity that is not already embodied in M2.
There is so much misinformation and so much deception; I find it rather difficult to determine the truth. One thing I’m sure of – nothing is what it appears to be. Does this mean that the U.S. Dollar is falling against all major world currencies as the email suggested?
I’m with you Cynthia. I don’t believe anything they tell us any more. Not a single damned thing.
Comment by Diane S. — March 30, 2006 @ 12:27 am
And no shit Cynthia? I’m a moderate?
Wow.
Sorry to go off topic. I don’t have your email.
Comment by Diane S. — March 30, 2006 @ 12:38 am
In a post on the Onblast Media blog, entitled “Fighting to save the Dollar is Iran next Pt 2”...the hidden agenda is unmasked.
Here is an interesting excerpt:
“Iran plans to switch from the petrodollar over to the euro on March 28, 2006 Which would grossly reduce the value of the dollar. Watch how the media intensify the threat Iran imposses on the US.”
Read the entire story…very informative: http://onblastmedia.com/?p=54
Pamela: This link was good, it helped me put some things into perspective, especially it allowed me to understand the magnitude of what Dr. McHugh said. All I can is Americans are in trouble.
Comment by Pamela — March 30, 2006 @ 1:45 am
© 2006 Robert McHugh, Ph.D.
Thursday, March 16, 2006
Fed to Discontinue M3
Yes, the Fed will be discontinuing M3 but some will be able to reconstruct the number since the components of M3 will still be published although spread amongst different places. The bottom line being that the number will not be readily available to the masses.
Robert McHugh, Ph.D. at:
http://www.financialsense.com/fsu/editorials/mchugh/2006/0311.html
in the context of the Fed wanting banks to restrict commercial real estate loans (a good read) writes:
“The Fed announced again on March 9th, with no palatable explanation, that they will no longer publish M-3 as of March 23rd. While they claim that M-3 is useless, in the blurb on their website, the fact is banks are still reporting all the data on their Call Reports used to calculate M-3. The Fed has not eliminated the unique M-3 components from the Bank Call Reports.
Why don’t they want to be transparent with the most important statistic, the very measure of why they were established by a minority of Congress during a late night session back in 1913? Because they cannot wait to pump money to high heaven like some sort of fiat tower of Babel.
M-3 was increased by $28.3 billion last week, a 14.2 percent annualized rate of growth. Over the past 2 weeks, M-3 was boosted an amazing $81.9 billion, for an annualized rate of growth of 20.7 percent! Over the past 8 weeks, M-3 is up 129.6 billion, an 8.2 percent rate of growth, and is up a whopping $249.7 billion over the past 12 weeks, a 10.7 percent annualized rate of growth, a $1.0 trillion annual expansion.”
Thanks for the information. The bottom line – things are a lot worst than I had thought.
Comment by P.T. — March 30, 2006 @ 3:33 am
Wanna track the dollar and other world currencies/indices on a daily basis?
Go here: http://www.efutures.com/quotes.php
Thanks. Nice site…
Comment by P.T. — March 30, 2006 @ 3:58 pm