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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: GraceZ who wrote (200842)	10/29/2002 12:41:49 PM
From: Tommaso	Read Replies (3) of 436258

As of 9/16/02 MZM was still rising at an annual rate of 9.8%. That was not all that long ago and that was pretty high. You may be correct, but a month is usually too short a period to be sure what the Fed is doing. research.stlouisfed.org And Grace, before you add me to your list of imbeciles, I will mention that I have been receiving the St. Louis Fed's publications for many years--many years before the Internet even existed--and that I check their site weekly. I have read the Friedman and Schwartz Monetary History of the U. S. several times. I applaud your diligence in following the day-to-day activity of the Fed, and of course you are correct that loans have been contracting. But in pointing out the role of banks in creating money, you are admitting that the Fed itself may still be trying to expand credit. If you think they have "cut permanent creation in half," how about providing the links to the sources of this information? Looking at the charts and figures from the St. Louis Fed, I don't see that. Or rather, what I see is a decline, but still what is historically a generous rate of money creation: research.stlouisfed.org

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