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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Taikun who wrote (16530)	11/22/2004 4:20:56 AM
From: Elroy Jetson	Read Replies (1) \| Respond to of 116555

So Faber hardly suggested that the Money Supply is declining, as some wildly exaggerated reports have claimed. I thought that most unlikely. US money supply has not been growing much since the month of May of this year. I think his choice of the MZM to support his line of reasoning was most ill advised. He might suggest that MZM is the measure which most nearly represents Money, as indeed it does, and as it most nearly matches the Austrian view of Money. But were he to make this argument, and this is far from certain that he would, I think it misses the most powerful ways that Monetarist economies destroy their currencies, which are most nearly captured by M3. Even that measure of money supply excludes some derivative contracts. .