Friday, December 10, 2010

OMG: Business Insider Discovers the Fed Prints Money

BI headlines:

A Baffling $1 Trillion Has Flowed Into Retail Banks Despite Record-Low Rates 
They continue:
In the past three years an incredible $1 trillion has flowed into U.S. retail deposits, according to October data from Market Rates. This is getting ridiculous as banks offer rates like 2%... 1%... or lower...
Yes, M2 money supply has increased from $7.4 trillion at the end of October 2007 to $8.8 trillion at the end of October 2010.

But this, my friends at BI, is what the Fed does: PRINT MONEY. You should check theFed  H.6 release every so often. You will be amazed as to what the Fed is doing.

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