The monetary base (MB) was $1,236,518 million on 5 November 2008 and $843,841 on 10 September, a 46.53% increase in eight weeks. Zimbabwe Ben (ZB) is working overtime to defend your dollar's value. If the last eight week's rate of increase continues for 40 more weeks, that's an 890% increase in 48 weeks, a marked slowdown from my last report, which was a 1,040% increase. ZB considers this tight monetary policy. It is, by Zimbabwe's standards. Got gold? Get more. Got bonds? Shame on you.
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Here is a broad set of money supply charts for your viewing convenience. :)
http://jessescrossroadscafe.blogspot.com/2008/11/is-money-supply-contracting.html
On MB >> Build an ark... the money flood is rising... the rain doesn't stop.
Actually ZB is trying to save the banking system... he is clever but he's clueless... or maybe he is just too scared to let some big ones fall.
On gold >> Babylon... year 1747 BC
... an upright governor had no gold to pay for horses to mount an expedition to Kanish in Assyria...
the governor was strong and trusted by the people... he wrote out a promise on a clay tablet to pay 25 bushels of wheat per year and return of the gold after he returned from the expedition with a large shipment of tin... many people were confident in his strength and wisdom and they knew that tin was needed... as the governor travelled along the Tigris he traded slaves and horses for wheat... he was able to multiply his riches...the expedition was a great success and the lenders were repaid in full with gold which the governor traded the tin for at high prices...
On Jesse >> you're charting rocks!
Anonymous:
I agree, ZB is trying to save the big banks. If in the process, he destroys the dollar, so be it. I agree, Jesse's chart are wonderful. They're one of the many reasons I link to his site.
You forgot: Got guns? Got Ammo? Before this is over we may see the collapse of our goverment.
Anonymous:
You are correct. Among other things, ammo makes an excellent barter item. Of course, it has other uses. You are correct too about the possibility of the US government collapsing. I have likened our current situation to that of France in the 1780s.
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