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To: accountclosed who wrote (77792)	12/2/1999 6:34:00 PM
From: pater tenebrarum	Respond to of 86076

here's a post on the money supply explosion from another board: Money supply growing like Jack's beanstalk. Posted By: Mr. Moto Date: Thursday, 12/2/99, at 4:16 p.m. Briefly, and including what I missed last week due to the holiday, M2 less M1 is up $24 billion and M3 less M2 is up $28 billion. Watch the money grow through the system, ladies and gentlemen. Of course, what else might we expect when the Federal Reserve provides ~ $35 billion in term repo's for three months. Would you think that you and I could turn a profit given that large an opportunity? And, if so, how might we do it? ----- M2 less M1 consists of savings deposits (including money market deposit accounts), small-denomination time deposits (time deposits-including retail RPs-in amounts of less than $100,000), and balances in retail money market mutual funds. Excludes individual retirement account(IRA) and Keogh balances at depository institutions and money market funds. M3 less M2 consists of large-denomination time deposits (in amounts of $100,000 or more), balances in institutional money funds, RP liabilities (overnight and term) issued by all depository institutions, and Eurodollars (overnight and term) held by U.S. residents at foreign branches of U.S. banks worldwide and at all banking offices in the United Kingdom and Canada. Excludes amounts held by depository institutions, the U.S. government, money funds, and foreign banks and official institutions. -----