[GJM] "Money as Debt" [Fwd: Solari Update - June 6, 2007][CITS Capital & Debt Alert]

[W. Curtiss Priest]

Dear money-interested folk,

Catherine in her June 6th newsletter (below) mentions the
"Money as Debt" video which I came across last month.

The video is quite informative, so I do commend watching
it.

For we who "understand" a "fractional money system" and "fiat"
money, the video confirms what we know and leaves many
questions unanswered.

What remains a mystery is, after the introduction of
money via the progression of 10:1 lendings on deposits,
how is it that the various measures of the supply of
money:  M1, M2, and M3 change over time?  The "Fed" has
stopped estimating M3, they say, because it is difficult ...
but others say without an estimate of M3, how can the
Fed form monetary policy.

One can read, for example, Griffith's "The Creature from Jekyll
Island: A Second Look at the Federal Reserve," and learn
that there were two prior "central banks" and that twice
now such banks have been disbanded in the history of the US,
and wonder whether our 3rd "central bank" does more harm
than good?

As one who has studied money, I can say, as soon as we
go past, "It is a medium of exchange," there are far
more questions than answers.

Regards,

Curtiss Priest
Editor, CITS Capital & Debt Watch
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