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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Real Man who wrote (91459)2/10/2008 11:18:59 PM
From: 10K a day  Read Replies (1) of 110194
 
>> Why else would M3 be gone? <<

M3 is gone because it is too hard to track. Second mortgages created money. First mortgages created money and were sliced and diced and sold. second mortgages blew up. first mortgages blew up. Off balance sheet crap made it more confusing. (Marking to market just doesn't happen). M3 is just a big giant confustion. The fed prints a buck so a bank can lend 10. Can the fed actually tally up all banking deposits (on any given moment) and say. By golly. That's M3 today....
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