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Gold/Mining/Energy : Gold Price Monitor
GDXJ 98.59-2.8%Nov 13 4:00 PM EST
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To: Enigma who wrote (51424)4/14/2000 4:12:00 AM
From: Alex  Read Replies (1) of 116759
 
<<The Mystery of the Missing Currency. Since currency is such an important component of the money supply, it obviously is very important to have an accurate measure of it. In practice, the Fed assumes that all the money ever printed is still in circulation, less only that which has been officially withdrawn from circulation or is known to have been destroyed. However, when the Fed has attempted to survey banks, businesses and households to find out how much currency was actually circulating, some 80 percent of the currency thought to be in circulation had simply disappeared.

Efforts to locate this missing money have focused particularly on "exports" of U.S. dollars: money that has left our shores and now circulates in foreign countries. For many years, there were no estimates of these exports. In the last two years the Federal Reserve has developed estimates of currency exports that it believes are reliable. The Commerce Department now publishes them in the Survey of Current Business, a monthly publication of the U.S. Government Printing Office. The table presents the data on both the stock of U.S. dollars circulating in foreign countries and the annual flows.>>

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