$15 Trillion in 5 Days

Exactly as I said. M1 & M2 does not include Federal Reserve account money. i.e. "Base Money". For that, you have to look at MB. It's a special count not normally reported as part of the circulating money supply.

Since you are now checking out the Federal Reserve for information, this entire conversation can be laid to rest with this which I've posted several times, and which has rendered silence from everyone who has disagreed with me on the whole issue of USD. Please note the bold part. (taken from the Federal Reserve website)

 

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I just want to wave a red flag so that anyone interested in the topic won't be misled by your incorrect information about money. You can believe what you want.

 

Please explain to me the significance of the statement indicated in bold.

Keep in mind the following also comes from The Federal Reserve Website
“The monetary base is defined as the sum of currency in circulation and reserve balances (deposits held by banks and other depository institutions in their accounts at the Federal Reserve)”

 

The entire statement is this:

"There are several standard measures of the money supply, including the monetary base, M1, and M2. The monetary base is defined as the sum of currency in circulation and reserve balances (deposits held by banks and other depository institutions in their accounts at the Federal Reserve)."​

It is giving you the definition of M1 & M2 which they call the monetary base. It is not the definition of base money. As I said above, that measure is MB.

 

Almost all U.S. currency now consists of Federal Reserve notes,

Read more: http://www.cointalk.com/t194826-19/#ixzz1fJlUomnY

This is my last post on this subject, (the whole thread peeves me off since it appears I started it but I was simply responding to the OP who has since been removed), but one more time:

Currency is NOT equal to USD. Currency is a PART of total USD, but only a part. I have never disagreed that almost all US CURRENCY in circulation is FRN, but have always disagreed when you try to say US CURRENCY=ALL USD.

That is the beginning, middle, and end of the disagreement. Anyone who wishes to read details of either side may refer back to the previous 19 pages of this ungodly long, largely unnecassarily long, thread.

Chris

 

You have said this several times in this topic and yet when I tell you that I didn't say this, and tried to explain what I did say, you completely ignore it.