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> And I'm amazed at how gold-bug conservatives so conveniently ignore the previous 13 years of furious money-printing that accompanied near-zero inflation level
by nickysielicki 5y ago
> And I'm amazed at how gold-bug conservatives so conveniently ignore the previous 13 years of furious money-printing that accompanied near-zero inflation levels.
Are you aware of the degree to which is ramped up?
https://fred.stlouisfed.org/series/M1SL https://fred.stlouisfed.org/series/M1SL
- colinmhayes 5y agoWhy are you looking at m1? https://fred.stlouisfed.org/series/M2SL https://fred.stlouisfed.org/series/M2SL
- nickysielicki 5y agoBecause M2 was specifically changed to look less bad.
- greenpresident 5y agoThe FED changed its definition of M1 by including deposits that were previously only part of M2. M2 always includes M1. The surge in M1 in April 2020 is because its definition changed. Would you elaborate on why and when you believe M2 was changed to "look less bad"?
- nickysielicki 5y agoYou’re right and I both misread and misremembered which definition changed. The better graph to look at is the money base. https://fred.stlouisfed.org/series/BOGMBASE https://fred.stlouisfed.org/series/BOGMBASE
- Bud 5y agoCould I have a cite on this, to satisfy my curiosity? What was changed? By whom? Where's the evidence that it was changed on purpose, for this specific reason?
- nickysielicki 5y agoSee your sibling comment, I’m wrong. It’s M1 that was changed, not M2.