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Private reports peg M3 money supply growth well into double digit land, and even crossing that threshold just as the Fed conveniently stopped reporting it "to save money" in 2006.
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Who cares? M3 doesn't doesn't predict much as far as the CPI goes, nor is it a particularly useful indicator of inflation. Hell, even during recessions it does odd things. Why track M3 if you can't use it to predict anything useful?
Also people like to cite the growth rate of M3 without actually looking at what components of it are growing.
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I am quite scared of inflation.
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Why? The FED currently isn't inflating anything. More money/credit has been destroyed recently than created. That isn't inflationary....its something else.
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I do not see anything with a large enough return to protect it from double digit inflation.
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TIPS