Crypto Voices
Crypto Voices
Matthew Mezinskis
PE27: Decoding M3 - Repurchase agreements USA (VII)
34 minutes Posted Feb 17, 2023 at 6:02 pm.
Intro
Money supply "stack"
Federal Reserve presser on M3 discontinuation
Repo market summary
Why repos: #1 Shadow banking
Why repos: #2 Liquidity
Why repos: #3 Leverage
M3 non-M2 Total (Fed discontinued)
Large time deposits & Institutional money market funds
Repos (Banks)
Repos (Shadow banks)
Former Fed economist explains repos and M3
Repos (Fed)
Fed knows it's a monopoly actor
Adding up all M3 money supplies found so far
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34:01
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Show notes
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This is the twenty-seventh installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.
Contents
Here we look at the next level up for the United States money supply: the M3 money stock. Note that M2 is included in the M3 money supply; however, in this video we cover only the non-M2 monetary components. Specifically in this video, we are covering repurchase agreements. These next few videos will review how it is a challenge to reconstruct this data, since the Fed stopped publishing this money supply in February 2006.
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