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To: KeepItSimple who wrote (15417)	3/7/2000 10:21:00 PM
From: Mike M2	Respond to of 42523

Kis, I believe it was congressman Ron Paul of Texas who grilled AG. He is a student of Austrian economics like AG once was before he became a political banker. mike

To: KeepItSimple who wrote (15417)	3/7/2000 10:21:00 PM
From: NickSE	Read Replies (1) \| Respond to of 42523

FED added 1.5 bil today. Kinda limp compared to the larger additions we have seen. Scrolling down the link shows a few restrains which is a shocker. biz.yahoo.com

To: KeepItSimple who wrote (15417)	3/8/2000 1:02:00 AM
From: Sir Auric Goldfinger	Respond to of 42523

A+ You may skip Econ 1 and go directly to Econ 101. Excellent term paper.

To: KeepItSimple who wrote (15417)	3/8/2000 7:46:00 AM
From: Oblomov	Read Replies (1) \| Respond to of 42523

KIS, As Nick pointed out in his reply, the Fed added $1.5B in reserves yesterday, but in order to know whether the Fed added or drained net liquidity, you must know how many overnight and term RPs expired yesterday. Here is a Fed data set that shows the outstanding overnight and term RPs. Unfortunately, it is not yet updated for February: stls.frb.org Also of significance is overnight and term Eurodollars: stls.frb.org Domestic RPs declined in January. It will be interesting to see what the net effect of open market operations is for February. As you can see, the monetary base (so-called "high-powered money") has declined to November 1999 levels: stls.frb.org MZM has flattened somewhat, but the fastest growing component is commercial lending activity and issue of commercial paper: stls.frb.org stls.frb.org