Friday, October 12, 2012

Total Monetary Supply on June 30 and Sept 30

June 30, 2012 Monetary Supply.  Revised to use Debt Held by the Public, called "Public Debt", instead of total National Debt.

M2 (as of 2012-06-25): 9933.6
Public Debt (as of 6/29/2012): 11044.2
Less Debt owned by Fed (as of 6/28/12): 1666.8 
-----------------
Total Monetary Supply as of (6/30/2012): 19311.0

So the monetary  inflation for the 2nd quarter was 1.6% which is not a problem.

========================================
Sept. 30 2012 Monetary Supply:

M2 (as of 9/24/12): 10123.0
Public Debt (as of 9/28/12): 11269.6
Less Owned by Fed (as of 9/27/12):  1643.2
----------------------------
Total Monetary Supply (as of 9/30/2012):  19749.4

The increase for the 3rd quarter was 2.27%, which is a problem.   But the month of September itself showed only a tiny increase.  So 9/30/12 would be a good starting point for measuring this because it is also the end of the fiscal year, and before QE3 got started.  (There was some small amount of QE3 in September, about $23 billion, but nothing like what is coming).

=================
Update:  Another key metric is the price of gold, which was $1771 as of the 9/28/12 close.

=================
Update:  I am now calling this M4.  The numbers as of 8/31/12 were:

M2 (as of 8/27/12): 10056.0
Public Debt (as of 8/31/12): 11273.6
Less Owned by Fed (as of 8/30/12):  1639.4
----------------------------
Total Monetary Supply (as of 9/30/2012):  19690.2

So the increase in September was 59.2 or 0.30%, as low as you could hope for.

No comments:

Post a Comment