Thieves in the temple!

What you are about to read is a move toward non- transparency and the ability to lie without data to prove the falsehood.

If .1% of people knowledgeable in finance have the courage to speak out I would be amazed. If you do not speak out now you have permitted this to happen. This is a sad day because the public could not care less.

DJ Fed To Stop Issuing M3 Monetary Data March 23 As Planned

Fri Mar 10 07:30:08 2006 EST

WASHINGTON (Dow Jones)--The Federal Reserve on Thursday said it will proceed as planned to stop publishing M3 monetary aggregate data March 23, as other monetary data sufficiently reflect economic activity.

"M3 does not appear to convey any additional information about economic activity that is not already embodied in M2 and has not played a role in the monetary policy process for many years," the Fed said in a press release. The Fed board decided the cost of collecting the underlying data to issue M3 outweigh the benefits.

As initially announced in November, the Fed will also end its publication of M3 components: large-denomination time deposits, repurchase agreements and Eurodollars.

The Fed will continue to publish data on institutional money market mutual funds as a memo item for its weekly release of money-stock measures. The central bank will also continue to publish large-denomination time deposits in its weekly report on bank assets and liabilities and in its quarterly flow of funds report.

Economists group various forms of money as M1, M2 and M3. M1 is the narrowest and most liquid, including physical currency and checking accounts. M2 includes M1 plus time-related deposits, savings accounts and non-institutional money market funds. M3 builds on M2.

-By Campion Walsh; Dow Jones Newswires; 202 862 9249;
campion.walsh@dowjones.com