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To: Bill Harmond who wrote (87032)	12/10/1999 7:20:00 PM
From: Eric Wells	Read Replies (1) \| Respond to of 164684

Money-supply growth this year has been the slowest in years, William - could you elaborate on the statement from your post above? The Reuters article form GST stated the following: Greenspan has engineered the biggest expansion of money supply in the Fed's history Yet, you seem to be saying the exact opposite. One would think that either the Reuters article is incorrect - or your statement is. Which is it? -Eric

To: Bill Harmond who wrote (87032)	12/10/1999 7:24:00 PM
From: GST	Read Replies (1) \| Respond to of 164684

William: >>Evidence of a money supply bubble. Money supply bubble? GST where do you come up with this? Money-supply growth this year has been the slowest in years, somthing less than 3%. The Fed's been trying to slow the economy, remember? William -- I posted an article -- see excerpt below -- are you saying money supply is growing at 3%? Where are YOU coming up with this????? And if money supply is growing as fast as indicated -- what does that tell YOU about the 'slowing' of the economy??? Excerpt: "Greenspan has engineered the biggest expansion of money supply in the Fed's history in the weeks leading up to the end of the year, when the so-called Y2K computer bug could disrupt financial systems. The Fed's move has been explosive on Wall Street because a free flowing money faucet at the Fed is the stuff that makes bull markets get fatter. M3, the Fed's broad definition of money, which includes currency, travelers' checks, bank deposits and money market mutual funds, has climbed an incredible $194 billion over the past 13 weeks -- the biggest increase ever. The money supply increased at an annualized rate of 15 percent, which is well above the Fed's target growth rate of only 5 percent. Just a week ago, M3 went up a whopping $36 billion, which would seem to indicate that the central bank is buying insurance against some possible disruptions as the calendar changes from 1999 to 2000, analysts said."