The Circle of Economic Life
Narrow money in the US has been crushed - it cannot fall much further
Odd that the guardian of the world’s most important currency, the Fed, don’t seem to care a damn about actual dollars. They demonstrated this when they juiced money supply during the pandemic at a truly gargantuan pace. Less consequentially, but just as carelessly, the Fed ceased measuring broad money (M3) a few years ago. Then last year they trashed t…
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