Reply #8: M3 isn't printed money-- it's worse...

[TreasonousBastard]

it's some CD's but primarily "eurodollars"-- the name for just about all money we pay for imported goods that's deposited outside the US somewhere. It's also "repo agreements" which is a fancy name for a sort of bond trading. Like the bonds we sell to China and agree to buy back or refinance at a certain rate and time.

So, M3 is the true measure of just how much in hock we are to the rest of the world, and, thanks to the magic of acceleration, multipliers and other economic wizardry, can show us to be much worse off than the current account balance, trade deficits, or other more easily understood numbers.

Anyway, no matter what the details, we's in some deep shit.