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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: pater tenebrarum who wrote (78990)12/9/1999 6:17:00 PM
From: Defrocked  Read Replies (3) of 86076
 
According to tonight's Fed releases,
the last four weeks have seen enormous
money growth attributable not only to
currency ramping for Y2K but also due to
increases in Commercial and Industrial Loans by the
money center banks. In order achieve the
5.5% Fed funds target, the Desk is having to
supply so much reserves its holdings of US debt
are now at an all time record, as is the currency
in circulation.

Just take a look at the following annualized numbers
from 28 days ago:
M3 +22.3%
Currency +14.8%
C&I Loans +30.5%

My, my; hasn't the Desk been busy these last four weeks.
The Fed will be doing a lot of matched sales
in January. Otherwise buy commodities. BWDIK.
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