OK. How bad is the US financial system? Are things on their way to getting better, as mainstream economists report?The answer... Not really.
The following facts are derived from a Mises Institute paper entitled "The Insolvency of the Fed."
What is happening is that the Federal Reserve is "recapitalizing" the US financial system by buying up bad assets - and thereby compromising the Federal Reserve system itself. In order to maintain US bank capital ratios, the Fed is taking on mountains of low quality assets, thus weakening its own capital ratios.
By way of contrast, the Fed still has massive gold holdings, left over from the days of the gold standard, at which time the US established possibly the largest gold account in world history. On the books, the Fed values its gold holdings at a nominal $42.44 per troy ounce. Of course, the Fed's gold is presently worth 20 times that amount on today's market.
Based on its present bookkeeping system, the capital ratio of the US Federal Reserve Bank has deteriorated from a factor of 22 to 1 to an amount of 50 to 1. That is, if only 2% of the Fed's current assets have to be written down, the Fed itself becomes technically bankrupt.
Interestingly, the Fed can fix this problem by pricing its gold holdings at their actual market value, which would increase its capital from 2% of its obligations to 12.35% of its obligations. This simple strategy would lower the bank's nominal capital ratio to 8 to 1!
In other words, the only asset that the Fed has left that is of substantial value is its gold holdings, which in today's market are worth 5 times the value of all of its other assets!
And if you didn't think things were bad enough at the Fed, have a look at John Williams' latest unmassaged "shadow" financial statistics.Inflation is down all right, but not from 2% to 0% as the government spin doctors will have you believe. It is down from 14% to 8% - in a world of declining incomes!
The rate of broad M3 money supply growth is down too - but from a horrendous 18% level to a still surging and dollar-destroying 12% level.
What do these super-inflationary rates of money supply growth add up to in terms of estimated total US M3 money supply? Well, as recently as 2006, you could have talked in terms of $10 trillion US dollars in circulation. This is when the Fed stopped counting, as the number had begun to grow uncomfortably quickly! (The total reached $1 trillion for the first time in 1974, as can be seen below....)| SEASONALLY ADJUSTED | NOT SEASONALLY ADJUSTED | |||
|---|---|---|---|---|
| DATE | M3 | NON-M2 M3 | M3 | NON-M2 M3 |
| 1959-Jan. | 288.8 | 2.3 | 292.0 | 2.2 |
| 1959-Feb. | 289.9 | 2.2 | 289.9 | 2.2 |
| 1959-Mar. | 291.4 | 2.2 | 290.1 | 2.2 |
| 1959-Apr. | 292.3 | 2.2 | 292.5 | 2.2 |
| 1959-May | 294.4 | 2.2 | 292.5 | 2.3 |
| 1959-June | 296.3 | 2.2 | 294.8 | 2.3 |
| 1959-July | 297.4 | 2.2 | 296.7 | 2.3 |
| 1959-Aug. | 298.5 | 2.1 | 297.0 | 2.2 |
| 1959-Sep. | 298.8 | 2.1 | 298.2 | 2.1 |
| 1959-Oct. | 298.5 | 2.0 | 298.9 | 2.0 |
| 1959-Nov. | 299.1 | 2.0 | 299.7 | 1.9 |
| 1959-Dec. | 299.7 | 1.9 | 302.4 | 1.8 |
| 1960-Jan. | 300.1 | 1.9 | 303.4 | 1.9 |
| 1960-Feb. | 300.4 | 1.9 | 300.4 | 1.9 |
| 1960-Mar. | 301.4 | 2.0 | 300.2 | 2.0 |
| 1960-Apr. | 302.2 | 2.1 | 302.4 | 2.1 |
| 1960-May | 303.0 | 2.1 | 301.0 | 2.2 |
| 1960-June | 304.5 | 2.2 | 303.1 | 2.2 |
| 1960-July | 306.4 | 2.3 | 305.8 | 2.3 |
| 1960-Aug. | 309.3 | 2.4 | 307.7 | 2.5 |
| 1960-Sep. | 311.0 | 2.6 | 310.4 | 2.6 |
| 1960-Oct. | 312.2 | 2.7 | 312.5 | 2.6 |
| 1960-Nov. | 313.6 | 2.7 | 314.3 | 2.6 |
| 1960-Dec. | 315.2 | 2.8 | 318.0 | 2.7 |
| 1961-Jan. | 317.1 | 3.1 | 320.5 | 3.0 |
| 1961-Feb. | 319.9 | 3.3 | 319.9 | 3.3 |
| 1961-Mar. | 321.9 | 3.6 | 320.8 | 3.6 |
| 1961-Apr. | 323.8 | 3.9 | 324.2 | 4.0 |
| 1961-May | 326.5 | 4.3 | 324.5 | 4.4 |
| 1961-June | 328.9 | 4.6 | 327.5 | 4.8 |
| 1961-July | 330.5 | 5.0 | 330.0 | 5.1 |
| 1961-Aug. | 332.7 | 5.1 | 331.0 | 5.2 |
| 1961-Sep. | 334.8 | 5.2 | 334.0 | 5.2 |
| 1961-Oct. | 336.5 | 5.4 | 336.8 | 5.2 |
| 1961-Nov. | 338.8 | 5.5 | 339.3 | 5.2 |
| 1961-Dec. | 340.8 | 5.3 | 343.7 | 5.2 |
| 1962-Jan. | 343.0 | 5.5 | 346.5 | 5.4 |
| 1962-Feb. | 346.1 | 5.9 | 346.2 | 5.9 |
| 1962-Mar. | 349.4 | 6.3 | 348.4 | 6.3 |
| 1962-Apr. | 352.1 | 6.6 | 352.7 | 6.7 |
| 1962-May | 354.2 | 6.7 | 352.1 | 7.0 |
| 1962-June | 356.3 | 7.1 | 355.0 | 7.3 |
| 1962-July | 358.0 | 7.1 | 357.4 | 7.3 |
| 1962-Aug. | 360.1 | 7.3 | 358.3 | 7.4 |
| 1962-Sep. | 362.5 | 7.6 | 361.5 | 7.6 |
| 1962-Oct. | 365.1 | 8.0 | 365.3 | 7.8 |
| 1962-Nov. | 368.0 | 8.2 | 368.3 | 7.8 |
| 1962-Dec. | 371.3 | 8.6 | 374.0 | 8.2 |
| 1963-Jan. | 374.2 | 9.0 | 377.9 | 8.8 |
| 1963-Feb. | 377.2 | 9.2 | 377.3 | 9.2 |
| 1963-Mar. | 380.2 | 9.6 | 379.4 | 9.6 |
| 1963-Apr. | 383.1 | 9.8 | 383.9 | 10.0 |
| 1963-May | 386.2 | 10.1 | 383.9 | 10.5 |
| 1963-June | 388.8 | 10.3 | 387.4 | 10.6 |
| 1963-July | 391.5 | 10.4 | 390.9 | 10.7 |
| 1963-Aug. | 394.5 | 10.9 | 392.5 | 11.0 |
| 1963-Sep. | 397.3 | 11.3 | 396.1 | 11.2 |
| 1963-Oct. | 400.0 | 11.7 | 400.1 | 11.4 |
| 1963-Nov. | 403.8 | 12.3 | 404.1 | 11.8 |
| 1963-Dec. | 405.9 | 12.7 | 408.7 | 12.2 |
| 1964-Jan. | 408.5 | 13.2 | 412.6 | 13.1 |
| 1964-Feb. | 411.3 | 13.7 | 411.4 | 13.7 |
| 1964-Mar. | 413.6 | 13.8 | 412.9 | 14.0 |
| 1964-Apr. | 415.8 | 14.1 | 416.8 | 14.4 |
| 1964-May | 418.9 | 14.6 | 416.4 | 15.1 |
| 1964-June | 422.1 | 15.1 | 420.8 | 15.4 |
| 1964-July | 425.5 | 15.4 | 424.9 | 15.6 |
| 1964-Aug. | 429.2 | 15.7 | 427.0 | 15.9 |
| 1964-Sep. | 433.0 | 16.2 | 431.7 | 16.0 |
| 1964-Oct. | 435.9 | 16.8 | 436.2 | 16.3 |
| 1964-Nov. | 439.3 | 17.3 | 439.6 | 16.7 |
| 1964-Dec. | 442.4 | 17.6 | 445.5 | 17.1 |
| 1965-Jan. | 445.8 | 18.3 | 450.5 | 18.1 |
| 1965-Feb. | 449.1 | 18.6 | 448.9 | 18.7 |
| 1965-Mar. | 452.0 | 18.8 | 451.2 | 19.0 |
| 1965-Apr. | 454.5 | 19.0 | 455.7 | 19.4 |
| 1965-May | 456.4 | 19.3 | 453.6 | 19.9 |
| 1965-June | 459.9 | 19.8 | 458.5 | 20.1 |
| 1965-July | 463.3 | 20.4 | 462.6 | 20.5 |
| 1965-Aug. | 466.8 | 21.0 | 464.5 | 21.2 |
| 1965-Sep. | 471.1 | 21.6 | 469.8 | 21.3 |
| 1965-Oct. | 474.9 | 22.4 | 475.4 | 21.7 |
| 1965-Nov. | 478.3 | 22.6 | 478.7 | 22.0 |
| 1965-Dec. | 482.1 | 23.0 | 485.5 | 22.4 |
| 1966-Jan. | 485.1 | 23.1 | 490.1 | 23.0 |
| 1966-Feb. | 487.8 | 23.2 | 487.1 | 23.4 |
| 1966-Mar. | 490.8 | 23.6 | 489.8 | 23.9 |
| 1966-Apr. | 494.0 | 24.8 | 495.3 | 25.2 |
| 1966-May | 495.4 | 25.4 | 492.2 | 26.1 |
| 1966-June | 497.1 | 25.9 | 495.7 | 26.1 |
| 1966-July | 497.8 | 27.0 | 497.2 | 26.9 |
| 1966-Aug. | 499.6 | 27.0 | 497.5 | 27.4 |
| 1966-Sep. | 502.3 | 26.9 | 501.2 | 26.6 |
| 1966-Oct. | 501.4 | 25.7 | 502.0 | 25.1 |
| 1966-Nov. | 502.0 | 24.7 | 502.4 | 24.3 |
| 1966-Dec. | 505.4 | 25.3 | 508.6 | 24.9 |
| 1967-Jan. | 509.1 | 27.5 | 513.7 | 27.3 |
| 1967-Feb. | 514.5 | 29.3 | 513.0 | 29.5 |
| 1967-Mar. | 519.9 | 30.3 | 518.6 | 30.5 |
| 1967-Apr. | 522.6 | 30.5 | 523.8 | 30.9 |
| 1967-May | 527.7 | 30.5 | 524.5 | 31.2 |
| 1967-June | 533.1 | 31.1 | 532.0 | 31.1 |
| 1967-July | 537.7 | 31.4 | 537.3 | 31.1 |
| 1967-Aug. | 542.5 | 31.7 | 540.9 | 32.3 |
| 1967-Sep. | 546.8 | 32.2 | 546.2 | 32.0 |
| 1967-Oct. | 550.2 | 32.1 | 550.8 | 31.6 |
| 1967-Nov. | 553.9 | 32.7 | 554.1 | 32.5 |
| 1967-Dec. | 557.9 | 33.1 | 560.9 | 32.9 |
| 1968-Jan. | 560.4 | 33.0 | 564.7 | 32.8 |
| 1968-Feb. | 563.6 | 33.2 | 561.4 | 33.3 |
| 1968-Mar. | 567.0 | 33.8 | 565.4 | 33.9 |
| 1968-Apr. | 569.2 | 33.5 | 570.5 | 33.7 |
| 1968-May | 572.3 | 33.4 | 569.3 | 33.8 |
| 1968-June | 575.9 | 33.3 | 575.4 | 33.1 |
| 1968-July | 580.6 | 35.0 | 580.7 | 34.5 |
| 1968-Aug. | 585.6 | 36.2 | 584.5 | 36.9 |
| 1968-Sep. | 590.6 | 37.1 | 590.2 | 37.1 |
| 1968-Oct. | 595.8 | 38.2 | 596.4 | 38.0 |
| 1968-Nov. | 601.7 | 39.3 | 601.8 | 39.3 |
| 1968-Dec. | 607.2 | 40.3 | 610.0 | 40.4 |
| 1969-Jan. | 607.9 | 38.6 | 612.1 | 38.6 |
| 1969-Feb. | 609.1 | 37.2 | 606.2 | 37.1 |
| 1969-Mar. | 610.8 | 36.4 | 609.0 | 36.1 |
| 1969-Apr. | 611.5 | 35.8 | 613.2 | 35.8 |
| 1969-May | 611.6 | 35.1 | 608.9 | 35.4 |
| 1969-June | 612.1 | 33.7 | 612.0 | 33.3 |
| 1969-July | 610.1 | 30.6 | 610.7 | 30.1 |
| 1969-Aug. | 607.7 | 27.7 | 606.6 | 28.2 |
| 1969-Sep. | 608.5 | 26.5 | 608.0 | 26.6 |
| 1969-Oct. | 608.9 | 25.5 | 609.3 | 25.6 |
| 1969-Nov. | 613.5 | 28.1 | 613.0 | 28.2 |
| 1969-Dec. | 615.9 | 28.0 | 618.2 | 28.1 |
| 1970-Jan. | 616.1 | 26.5 | 618.3 | 26.3 |
| 1970-Feb. | 613.3 | 27.0 | 610.3 | 26.9 |
| 1970-Mar. | 615.7 | 28.5 | 615.7 | 28.4 |
| 1970-Apr. | 619.5 | 31.2 | 624.2 | 31.4 |
| 1970-May | 624.3 | 32.8 | 623.8 | 32.9 |
| 1970-June | 627.1 | 31.9 | 629.0 | 31.5 |
| 1970-July | 635.7 | 36.6 | 637.1 | 35.8 |
| 1970-Aug. | 644.8 | 40.0 | 643.6 | 40.6 |
| 1970-Sep. | 654.4 | 43.2 | 652.7 | 44.0 |
| 1970-Oct. | 662.3 | 45.9 | 660.5 | 46.5 |
| 1970-Nov. | 669.3 | 48.2 | 666.4 | 48.1 |
| 1970-Dec. | 677.1 | 50.6 | 678.2 | 50.3 |
| 1971-Jan. | 685.5 | 52.6 | 688.4 | 53.0 |
| 1971-Feb. | 695.8 | 54.8 | 692.7 | 54.7 |
| 1971-Mar. | 706.5 | 56.6 | 706.3 | 56.2 |
| 1971-Apr. | 713.7 | 55.3 | 718.9 | 55.4 |
| 1971-May | 723.3 | 56.6 | 722.7 | 56.6 |
| 1971-June | 730.1 | 57.2 | 732.1 | 56.2 |
| 1971-July | 738.3 | 58.7 | 739.8 | 57.4 |
| 1971-Aug. | 744.0 | 58.5 | 743.1 | 59.4 |
| 1971-Sep. | 751.7 | 59.3 | 750.0 | 60.4 |
| 1971-Oct. | 760.2 | 61.8 | 758.3 | 62.7 |
| 1971-Nov. | 768.3 | 63.7 | 764.9 | 63.7 |
| 1971-Dec. | 776.0 | 65.7 | 776.6 | 65.3 |
| 1972-Jan. | 783.8 | 66.1 | 786.1 | 66.1 |
| 1972-Feb. | 792.9 | 67.2 | 789.2 | 67.0 |
| 1972-Mar. | 800.6 | 67.1 | 800.5 | 66.8 |
| 1972-Apr. | 807.9 | 69.5 | 813.2 | 69.4 |
| 1972-May | 816.1 | 72.7 | 815.4 | 72.9 |
| 1972-June | 824.6 | 74.9 | 827.0 | 73.8 |
| 1972-July | 835.5 | 76.1 | 837.8 | 74.8 |
| 1972-Aug. | 846.6 | 77.9 | 846.1 | 79.1 |
| 1972-Sep. | 856.4 | 78.1 | 854.8 | 79.6 |
| 1972-Oct. | 865.8 | 78.9 | 863.6 | 80.0 |
| 1972-Nov. | 875.8 | 81.8 | 871.9 | 81.7 |
| 1972-Dec. | 885.9 | 83.7 | 886.2 | 83.1 |
| 1973-Jan. | 896.3 | 86.0 | 897.8 | 85.6 |
| 1973-Feb. | 906.1 | 92.0 | 901.7 | 91.6 |
| 1973-Mar. | 915.0 | 99.7 | 914.7 | 99.1 |
| 1973-Apr. | 922.4 | 102.7 | 927.8 | 102.3 |
| 1973-May | 932.3 | 105.5 | 931.6 | 105.8 |
| 1973-June | 940.7 | 107.5 | 943.5 | 106.3 |
| 1973-July | 950.3 | 113.7 | 953.2 | 112.5 |
| 1973-Aug. | 959.0 | 120.2 | 959.5 | 122.1 |
| 1973-Sep. | 965.8 | 126.5 | 965.0 | 129.0 |
| 1973-Oct. | 972.0 | 129.4 | 970.2 | 130.9 |
| 1973-Nov. | 977.3 | 128.5 | 973.8 | 128.4 |
| 1973-Dec. | 985.0 | 129.5 | 985.2 | 128.7 |
| 1974-Jan. | 993.9 | 134.3 | 994.6 | 133.1 |
| 1974-Feb. | 1002.4 | 138.2 | 997.2 | 137.4 |
| 1974-Mar. | 1010.7 | 140.6 | 1010.0 | 140.0 |
| 1974-Apr. | 1020.8 | 147.9 | 1025.6 | 147.0 |
| 1974-May | 1029.2 | 154.6 | 1028.5 | 155.1 |
| 1974-June | 1037.8 | 159.9 | 1040.4 | 158.5 |
| 1974-July | 1043.9 | 162.5 | 1047.3 | 161.3 |
| 1974-Aug. | 1048.6 | 164.5 | 1049.6 | 166.7 |
| 1974-Sep. | 1052.9 | 164.9 | 1052.6 | 167.9 |
| 1974-Oct. | 1058.5 | 165.2 | 1057.2 | 166.8 |
| 1974-Nov. | 1063.7 | 165.1 | 1060.5 | 165.1 |
| 1974-Dec. | 1069.9 | 167.8 | 1070.8 | 167.3 |
| 1975-Jan. | 1075.5 | 169.2 | 1076.8 | 168.9 |
| 1975-Feb. | 1082.7 | 168.6 | 1076.3 | 167.6 |
| 1975-Mar. | 1090.0 | 165.0 | 1088.7 | 164.2 |
| 1975-Apr. | 1095.8 | 160.7 | 1100.8 | 159.7 |
| 1975-May | 1105.9 | 158.0 | 1105.0 | 158.8 |
| 1975-June | 1118.7 | 155.7 | 1121.2 | 154.3 |
| 1975-July | 1128.7 | 153.6 | 1131.9 | 152.2 |
| 1975-Aug. | 1135.1 | 152.0 | 1135.5 | 153.1 |
| 1975-Sep. | 1145.9 | 154.4 | 1144.5 | 156.1 |
| 1975-Oct. | 1153.8 | 156.0 | 1151.8 | 156.2 |
| 1975-Nov. | 1163.8 | 156.9 | 1161.6 | 156.8 |
| 1975-Dec. | 1170.2 | 153.9 | 1173.3 | 155.5 |
| 1976-Jan. | 1181.6 | 155.0 | 1183.2 | 154.8 |
| 1976-Feb. | 1193.5 | 153.1 | 1186.7 | 152.5 |
| 1976-Mar. | 1204.6 | 154.6 | 1202.1 | 154.4 |
| 1976-Apr. | 1216.7 | 155.9 | 1221.7 | 154.8 |
| 1976-May | 1227.6 | 155.5 | 1226.6 | 156.3 |
| 1976-June | 1236.1 | 158.5 | 1237.9 | 157.2 |
| 1976-July | 1245.9 | 159.6 | 1249.9 | 158.3 |
| 1976-Aug. | 1259.2 | 160.6 | 1258.6 | 161.2 |
| 1976-Sep. | 1268.2 | 157.4 | 1266.8 | 158.3 |
| 1976-Oct. | 1280.8 | 155.8 | 1280.4 | 155.4 |
| 1976-Nov. | 1294.5 | 156.2 | 1291.9 | 156.8 |
| 1976-Dec. | 1309.9 | 157.9 | 1313.6 | 160.1 |
| 1977-Jan. | 1322.5 | 157.3 | 1324.6 | 157.0 |
| 1977-Feb. | 1335.5 | 158.0 | 1327.6 | 157.7 |
| 1977-Mar. | 1348.4 | 159.9 | 1345.2 | 160.0 |
| 1977-Apr. | 1360.6 | 161.0 | 1366.2 | 159.6 |
| 1977-May | 1374.0 | 164.9 | 1371.2 | 165.7 |
| 1977-June | 1387.6 | 169.8 | 1388.2 | 168.4 |
| 1977-July | 1400.4 | 173.6 | 1405.2 | 172.3 |
| 1977-Aug. | 1415.2 | 178.2 | 1414.0 | 178.7 |
| 1977-Sep. | 1428.0 | 181.8 | 1426.9 | 182.2 |
| 1977-Oct. | 1441.8 | 187.8 | 1442.8 | 186.9 |
| 1977-Nov. | 1457.1 | 194.8 | 1456.4 | 196.1 |
| 1977-Dec. | 1470.4 | 200.1 | 1476.2 | 203.1 |
| 1978-Jan. | 1486.3 | 206.6 | 1488.9 | 206.6 |
| 1978-Feb. | 1498.1 | 212.6 | 1489.8 | 212.9 |
| 1978-Mar. | 1513.0 | 220.8 | 1509.7 | 221.5 |
| 1978-Apr. | 1528.6 | 228.2 | 1533.1 | 225.7 |
| 1978-May | 1544.3 | 233.8 | 1538.7 | 233.9 |
| 1978-June | 1555.4 | 236.9 | 1553.7 | 234.7 |
| 1978-July | 1567.0 | 242.9 | 1571.2 | 241.1 |
| 1978-Aug. | 1583.2 | 249.6 | 1581.9 | 250.5 |
| 1978-Sep. | 1597.2 | 252.1 | 1597.0 | 252.3 |
| 1978-Oct. | 1611.1 | 258.8 | 1612.9 | 257.6 |
| 1978-Nov. | 1630.2 | 271.1 | 1631.0 | 272.9 |
| 1978-Dec. | 1644.5 | 278.6 | 1652.6 | 281.7 |
| 1979-Jan. | 1656.8 | 285.2 | 1660.6 | 285.4 |
| 1979-Feb. | 1669.2 | 291.4 | 1661.8 | 292.5 |
| 1979-Mar. | 1683.2 | 295.4 | 1680.5 | 296.5 |
| 1979-Apr. | 1700.8 | 298.7 | 1703.7 | 295.2 |
| 1979-May | 1711.0 | 300.8 | 1703.7 | 301.0 |
| 1979-June | 1728.1 | 305.1 | 1725.1 | 302.6 |
| 1979-July | 1743.3 | 308.5 | 1746.6 | 307.3 |
| 1979-Aug. | 1761.6 | 315.0 | 1761.8 | 317.5 |
| 1979-Sep. | 1783.1 | 328.9 | 1783.6 | 329.1 |
| 1979-Oct. | 1796.7 | 336.3 | 1798.4 | 334.8 |
| 1979-Nov. | 1798.9 | 333.1 | 1800.7 | 334.3 |
| 1979-Dec. | 1808.7 | 335.0 | 1815.2 | 336.2 |
| 1980-Jan. | 1823.0 | 340.3 | 1826.4 | 340.1 |
| 1980-Feb. | 1841.7 | 347.2 | 1835.4 | 349.2 |
| 1980-Mar. | 1850.2 | 350.4 | 1848.5 | 351.3 |
| 1980-Apr. | 1854.2 | 352.0 | 1856.0 | 348.3 |
| 1980-May | 1867.0 | 354.6 | 1858.4 | 354.2 |
| 1980-June | 1884.4 | 355.2 | 1880.3 | 352.9 |
| 1980-July | 1903.2 | 357.7 | 1906.3 | 357.3 |
| 1980-Aug. | 1920.8 | 359.3 | 1923.9 | 363.2 |
| 1980-Sep. | 1935.2 | 361.2 | 1935.5 | 362.4 |
| 1980-Oct. | 1953.6 | 368.8 | 1956.7 | 368.3 |
| 1980-Nov. | 1975.3 | 379.5 | 1979.7 | 380.7 |
| 1980-Dec. | 1995.5 | 395.7 | 2000.8 | 396.0 |
| 1981-Jan. | 2020.6 | 413.6 | 2023.5 | 412.9 |
| 1981-Feb. | 2039.5 | 420.8 | 2033.1 | 422.5 |
| 1981-Mar. | 2058.1 | 421.5 | 2055.4 | 422.2 |
| 1981-Apr. | 2086.4 | 427.1 | 2087.6 | 423.2 |
| 1981-May | 2102.7 | 438.5 | 2093.5 | 438.1 |
| 1981-June | 2118.4 | 448.1 | 2112.0 | 445.0 |
| 1981-July | 2137.9 | 456.0 | 2140.1 | 455.0 |
| 1981-Aug. | 2157.1 | 462.8 | 2162.1 | 467.5 |
| 1981-Sep. | 2179.4 | 473.3 | 2181.7 | 475.3 |
| 1981-Oct. | 2204.7 | 482.9 | 2209.5 | 483.1 |
| 1981-Nov. | 2226.7 | 490.6 | 2233.0 | 492.0 |
| 1981-Dec. | 2254.5 | 499.1 | 2259.0 | 498.8 |
| 1982-Jan. | 2275.7 | 505.4 | 2276.6 | 503.8 |
| 1982-Feb. | 2284.4 | 509.9 | 2276.4 | 511.1 |
| 1982-Mar. | 2303.0 | 516.5 | 2298.8 | 517.1 |
| 1982-Apr. | 2328.5 | 524.5 | 2328.1 | 520.3 |
| 1982-May | 2343.1 | 527.7 | 2332.9 | 528.0 |
| 1982-June | 2359.7 | 533.7 | 2353.0 | 530.3 |
| 1982-July | 2372.2 | 537.8 | 2373.5 | 535.7 |
| 1982-Aug. | 2396.6 | 547.2 | 2401.9 | 551.8 |
| 1982-Sep. | 2413.0 | 549.7 | 2416.5 | 552.5 |
| 1982-Oct. | 2435.0 | 560.3 | 2441.8 | 561.1 |
| 1982-Nov. | 2447.4 | 559.0 | 2455.9 | 561.1 |
| 1982-Dec. | 2460.6 | 550.4 | 2469.1 | 550.9 |
| 1983-Jan. | 2488.9 | 525.6 | 2492.3 | 524.5 |
| 1983-Feb. | 2517.8 | 517.4 | 2507.5 | 518.1 |
| 1983-Mar. | 2534.1 | 515.5 | 2529.3 | 516.2 |
| 1983-Apr. | 2553.9 | 522.0 | 2555.7 | 518.7 |
| 1983-May | 2569.5 | 523.1 | 2559.8 | 524.7 |
| 1983-June | 2585.0 | 528.4 | 2579.8 | 524.9 |
| 1983-July | 2596.0 | 528.2 | 2597.6 | 524.9 |
| 1983-Aug. | 2609.8 | 532.9 | 2610.8 | 535.4 |
| 1983-Sep. | 2626.3 | 540.2 | 2626.0 | 542.0 |
| 1983-Oct. | 2646.1 | 543.9 | 2649.4 | 544.4 |
| 1983-Nov. | 2673.9 | 558.5 | 2681.1 | 560.4 |
| 1983-Dec. | 2697.4 | 570.9 | 2708.5 | 571.4 |
| 1984-Jan. | 2714.9 | 573.7 | 2721.4 | 573.5 |
| 1984-Feb. | 2742.6 | 581.2 | 2733.2 | 582.4 |
| 1984-Mar. | 2771.9 | 593.6 | 2766.6 | 594.4 |
| 1984-Apr. | 2801.2 | 606.3 | 2802.1 | 602.8 |
| 1984-May | 2828.4 | 620.9 | 2817.8 | 623.0 |
| 1984-June | 2850.2 | 631.7 | 2845.8 | 628.1 |
| 1984-July | 2871.8 | 644.9 | 2870.7 | 639.4 |
| 1984-Aug. | 2886.0 | 652.4 | 2885.8 | 653.7 |
| 1984-Sep. | 2904.7 | 657.1 | 2905.6 | 659.7 |
| 1984-Oct. | 2930.2 | 668.0 | 2932.3 | 669.4 |
| 1984-Nov. | 2957.9 | 673.1 | 2965.9 | 676.2 |
| 1984-Dec. | 2990.6 | 680.7 | 3004.6 | 682.5 |
| 1985-Jan. | 3018.0 | 681.9 | 3026.5 | 683.3 |
| 1985-Feb. | 3040.7 | 683.2 | 3031.7 | 684.9 |
| 1985-Mar. | 3056.6 | 687.1 | 3051.6 | 687.8 |
| 1985-Apr. | 3062.5 | 683.7 | 3062.5 | 679.4 |
| 1985-May | 3078.8 | 685.6 | 3067.0 | 687.0 |
| 1985-June | 3103.6 | 687.4 | 3100.0 | 682.9 |
| 1985-July | 3112.7 | 679.6 | 3111.9 | 673.7 |
| 1985-Aug. | 3131.4 | 683.9 | 3129.9 | 684.0 |
| 1985-Sep. | 3149.7 | 689.8 | 3148.5 | 692.4 |
| 1985-Oct. | 3167.1 | 695.5 | 3166.9 | 697.0 |
| 1985-Nov. | 3182.3 | 701.1 | 3189.7 | 704.2 |
| 1985-Dec. | 3208.1 | 712.4 | 3221.6 | 714.0 |
| 1986-Jan. | 3232.8 | 727.1 | 3243.0 | 728.6 |
| 1986-Feb. | 3250.7 | 734.6 | 3241.8 | 736.4 |
| 1986-Mar. | 3277.2 | 741.0 | 3272.8 | 742.1 |
| 1986-Apr. | 3307.7 | 746.7 | 3309.9 | 741.8 |
| 1986-May | 3331.0 | 742.6 | 3318.4 | 743.7 |
| 1986-June | 3353.0 | 744.4 | 3348.8 | 739.9 |
| 1986-July | 3381.9 | 751.4 | 3381.2 | 744.9 |
| 1986-Aug. | 3407.8 | 757.5 | 3407.3 | 757.6 |
| 1986-Sep. | 3435.3 | 763.4 | 3432.2 | 766.4 |
| 1986-Oct. | 3455.6 | 763.7 | 3453.7 | 764.8 |
| 1986-Nov. | 3467.1 | 761.6 | 3474.9 | 765.4 |
| 1986-Dec. | 3499.1 | 766.8 | 3513.3 | 768.3 |
| 1987-Jan. | 3524.7 | 776.7 | 3536.0 | 778.4 |
| 1987-Feb. | 3534.3 | 782.6 | 3524.1 | 784.6 |
| 1987-Mar. | 3542.6 | 784.9 | 3538.4 | 786.4 |
| 1987-Apr. | 3562.7 | 790.8 | 3568.1 | 784.9 |
| 1987-May | 3578.2 | 801.0 | 3565.1 | 801.1 |
| 1987-June | 3593.4 | 814.6 | 3588.0 | 810.4 |
| 1987-July | 3599.2 | 815.9 | 3599.8 | 810.4 |
| 1987-Aug. | 3620.1 | 827.8 | 3621.1 | 829.5 |
| 1987-Sep. | 3642.5 | 838.9 | 3639.8 | 842.3 |
| 1987-Oct. | 3667.9 | 848.7 | 3665.6 | 850.0 |
| 1987-Nov. | 3681.5 | 857.5 | 3689.1 | 862.4 |
| 1987-Dec. | 3686.5 | 855.0 | 3698.7 | 855.3 |
| 1988-Jan. | 3709.1 | 856.7 | 3719.9 | 857.7 |
| 1988-Feb. | 3737.2 | 861.8 | 3728.0 | 864.1 |
| 1988-Mar. | 3762.1 | 866.4 | 3759.7 | 868.0 |
| 1988-Apr. | 3788.5 | 872.7 | 3796.0 | 865.5 |
| 1988-May | 3814.6 | 883.4 | 3798.5 | 882.6 |
| 1988-June | 3834.2 | 890.9 | 3827.8 | 887.6 |
| 1988-July | 3850.3 | 897.2 | 3851.5 | 892.4 |
| 1988-Aug. | 3864.5 | 906.3 | 3864.9 | 908.9 |
| 1988-Sep. | 3876.3 | 913.1 | 3872.3 | 916.0 |
| 1988-Oct. | 3890.1 | 918.5 | 3888.4 | 920.1 |
| 1988-Nov. | 3909.0 | 922.6 | 3917.4 | 928.5 |
| 1988-Dec. | 3928.8 | 934.4 | 3941.1 | 934.3 |
| 1989-Jan. | 3937.0 | 939.3 | 3944.3 | 939.4 |
| 1989-Feb. | 3940.8 | 942.7 | 3932.8 | 944.3 |
| 1989-Mar. | 3961.5 | 955.8 | 3962.2 | 957.1 |
| 1989-Apr. | 3970.8 | 958.9 | 3980.0 | 950.8 |
| 1989-May | 3974.9 | 957.5 | 3958.1 | 956.1 |
| 1989-June | 3995.2 | 961.6 | 3987.5 | 959.2 |
| 1989-July | 4017.4 | 959.2 | 4016.6 | 955.1 |
| 1989-Aug. | 4027.5 | 947.1 | 4027.3 | 950.3 |
| 1989-Sep. | 4035.2 | 936.4 | 4029.7 | 937.3 |
| 1989-Oct. | 4047.5 | 926.8 | 4043.6 | 927.8 |
| 1989-Nov. | 4063.1 | 923.7 | 4071.4 | 929.4 |
| 1989-Dec. | 4077.1 | 918.6 | 4089.5 | 918.0 |
| 1990-Jan. | 4089.2 | 916.4 | 4091.7 | 914.9 |
| 1990-Feb. | 4095.6 | 910.0 | 4089.8 | 912.8 |
| 1990-Mar. | 4098.3 | 901.7 | 4102.8 | 903.8 |
| 1990-Apr. | 4105.8 | 897.4 | 4117.5 | 891.3 |
| 1990-May | 4107.8 | 901.2 | 4093.4 | 900.7 |
| 1990-June | 4115.1 | 895.9 | 4111.3 | 895.0 |
| 1990-July | 4127.8 | 897.9 | 4125.2 | 895.2 |
| 1990-Aug. | 4144.2 | 896.5 | 4145.4 | 901.1 |
| 1990-Sep. | 4151.5 | 891.4 | 4147.1 | 892.3 |
| 1990-Oct. | 4155.9 | 890.9 | 4149.8 | 890.2 |
| 1990-Nov. | 4151.8 | 882.2 | 4156.8 | 884.7 |
| 1990-Dec. | 4154.7 | 875.9 | 4166.1 | 874.2 |
| 1991-Jan. | 4177.2 | 882.7 | 4177.9 | 881.7 |
| 1991-Feb. | 4193.9 | 882.1 | 4191.0 | 887.7 |
| 1991-Mar. | 4201.5 | 872.1 | 4209.9 | 875.4 |
| 1991-Apr. | 4209.0 | 868.6 | 4220.9 | 863.7 |
| 1991-May | 4208.4 | 857.9 | 4195.9 | 858.0 |
| 1991-June | 4209.2 | 850.0 | 4205.2 | 848.1 |
| 1991-July | 4202.5 | 839.8 | 4197.0 | 835.5 |
| 1991-Aug. | 4197.1 | 835.5 | 4197.1 | 838.9 |
| 1991-Sep. | 4191.2 | 829.3 | 4182.8 | 828.5 |
| 1991-Oct. | 4195.4 | 828.5 | 4187.1 | 826.4 |
| 1991-Nov. | 4201.2 | 829.3 | 4209.7 | 831.6 |
| 1991-Dec. | 4210.3 | 830.5 | 4222.8 | 829.4 |
| 1992-Jan. | 4215.8 | 827.6 | 4218.1 | 828.1 |
| 1992-Feb. | 4236.2 | 829.1 | 4234.3 | 837.3 |
| 1992-Mar. | 4238.4 | 826.6 | 4241.6 | 829.7 |
| 1992-Apr. | 4226.1 | 818.9 | 4240.1 | 814.4 |
| 1992-May | 4220.5 | 815.9 | 4211.1 | 816.4 |
| 1992-June | 4218.7 | 818.1 | 4211.4 | 815.0 |
| 1992-July | 4218.9 | 817.6 | 4212.2 | 811.3 |
| 1992-Aug. | 4227.1 | 821.4 | 4227.9 | 824.0 |
| 1992-Sep. | 4235.7 | 818.6 | 4225.1 | 816.7 |
| 1992-Oct. | 4234.9 | 803.8 | 4227.8 | 801.6 |
| 1992-Nov. | 4230.8 | 796.6 | 4240.7 | 799.9 |
| 1992-Dec. | 4222.6 | 789.5 | 4237.6 | 788.3 |
| 1993-Jan. | 4204.5 | 777.2 | 4210.1 | 778.3 |
| 1993-Feb. | 4207.7 | 784.2 | 4201.2 | 792.3 |
| 1993-Mar. | 4211.1 | 790.0 | 4210.9 | 792.1 |
| 1993-Apr. | 4212.6 | 791.8 | 4225.3 | 786.9 |
| 1993-May | 4241.9 | 797.7 | 4231.4 | 798.2 |
| 1993-June | 4242.1 | 792.4 | 4238.4 | 790.7 |
| 1993-July | 4238.9 | 788.9 | 4234.7 | 783.3 |
| 1993-Aug. | 4240.4 | 785.7 | 4237.8 | 787.3 |
| 1993-Sep. | 4249.6 | 788.4 | 4239.4 | 786.4 |
| 1993-Oct. | 4256.5 | 791.2 | 4253.0 | 791.1 |
| 1993-Nov. | 4275.3 | 795.9 | 4283.5 | 799.4 |
| 1993-Dec. | 4285.6 | 801.3 | 4304.5 | 800.1 |
| 1994-Jan. | 4282.4 | 797.3 | 4288.5 | 798.5 |
| 1994-Feb. | 4268.7 | 782.3 | 4258.1 | 788.7 |
| 1994-Mar. | 4279.6 | 786.8 | 4276.8 | 788.2 |
| 1994-Apr. | 4290.4 | 793.2 | 4307.0 | 788.8 |
| 1994-May | 4300.8 | 795.4 | 4285.3 | 795.5 |
| 1994-June | 4297.3 | 805.3 | 4294.9 | 804.5 |
| 1994-July | 4318.3 | 820.5 | 4317.4 | 815.5 |
| 1994-Aug. | 4319.7 | 824.2 | 4316.7 | 824.3 |
| 1994-Sep. | 4329.4 | 832.7 | 4318.0 | 830.0 |
| 1994-Oct. | 4339.7 | 844.6 | 4335.6 | 846.2 |
| 1994-Nov. | 4355.4 | 857.4 | 4364.0 | 861.2 |
| 1994-Dec. | 4369.8 | 872.2 | 4389.0 | 870.4 |
| 1995-Jan. | 4393.7 | 890.3 | 4397.4 | 891.9 |
| 1995-Feb. | 4396.5 | 895.9 | 4387.0 | 902.3 |
| 1995-Mar. | 4415.7 | 913.8 | 4417.7 | 916.4 |
| 1995-Apr. | 4436.5 | 926.6 | 4454.0 | 922.0 |
| 1995-May | 4476.0 | 942.8 | 4459.4 | 943.1 |
| 1995-June | 4514.6 | 956.0 | 4510.2 | 954.6 |
| 1995-July | 4540.2 | 963.0 | 4537.6 | 957.2 |
| 1995-Aug. | 4575.5 | 976.1 | 4570.0 | 973.4 |
| 1995-Sep. | 4596.4 | 985.2 | 4585.7 | 980.4 |
| 1995-Oct. | 4613.6 | 990.4 | 4604.8 | 992.2 |
| 1995-Nov. | 4624.4 | 993.5 | 4631.1 | 997.3 |
| 1995-Dec. | 4636.3 | 995.7 | 4658.8 | 995.0 |
| 1996-Jan. | 4670.3 | 1011.8 | 4676.3 | 1015.1 |
| 1996-Feb. | 4700.6 | 1028.0 | 4694.8 | 1037.9 |
| 1996-Mar. | 4734.7 | 1036.6 | 4746.4 | 1042.0 |
| 1996-Apr. | 4753.0 | 1043.6 | 4770.7 | 1039.6 |
| 1996-May | 4788.1 | 1069.2 | 4769.3 | 1069.5 |
| 1996-June | 4811.0 | 1079.0 | 4807.1 | 1075.9 |
| 1996-July | 4837.4 | 1089.9 | 4827.5 | 1081.9 |
| 1996-Aug. | 4857.3 | 1101.3 | 4850.3 | 1095.4 |
| 1996-Sep. | 4885.4 | 1119.4 | 4869.6 | 1112.1 |
| 1996-Oct. | 4925.6 | 1145.7 | 4911.9 | 1146.1 |
| 1996-Nov. | 4946.3 | 1151.4 | 4954.3 | 1155.7 |
| 1996-Dec. | 4985.5 | 1170.3 | 5008.0 | 1172.4 |
| 1997-Jan. | 5013.0 | 1183.9 | 5021.6 | 1188.6 |
| 1997-Feb. | 5045.3 | 1205.2 | 5047.3 | 1219.0 |
| 1997-Mar. | 5079.8 | 1224.8 | 5100.4 | 1234.1 |
| 1997-Apr. | 5120.7 | 1248.7 | 5145.3 | 1245.5 |
| 1997-May | 5146.8 | 1262.6 | 5128.8 | 1264.0 |
| 1997-June | 5176.9 | 1275.0 | 5166.8 | 1270.9 |
| 1997-July | 5235.2 | 1313.6 | 5216.1 | 1300.9 |
| 1997-Aug. | 5291.5 | 1339.9 | 5278.7 | 1328.7 |
| 1997-Sep. | 5333.7 | 1362.7 | 5309.2 | 1350.8 |
| 1997-Oct. | 5376.2 | 1387.6 | 5358.6 | 1384.6 |
| 1997-Nov. | 5417.2 | 1407.1 | 5425.1 | 1411.6 |
| 1997-Dec. | 5460.9 | 1429.3 | 5489.2 | 1436.4 |
| 1998-Jan. | 5508.6 | 1453.0 | 5522.2 | 1460.6 |
| 1998-Feb. | 5545.5 | 1457.3 | 5554.2 | 1475.2 |
| 1998-Mar. | 5610.7 | 1495.5 | 5638.5 | 1508.6 |
| 1998-Apr. | 5647.1 | 1508.7 | 5679.9 | 1508.0 |
| 1998-May | 5687.0 | 1527.6 | 5673.2 | 1531.7 |
| 1998-June | 5728.4 | 1543.1 | 5711.8 | 1538.5 |
| 1998-July | 5749.6 | 1546.8 | 5721.5 | 1528.7 |
| 1998-Aug. | 5814.7 | 1586.1 | 5792.2 | 1569.3 |
| 1998-Sep. | 5883.9 | 1612.9 | 5851.5 | 1593.6 |
| 1998-Oct. | 5953.6 | 1641.5 | 5927.5 | 1631.3 |
| 1998-Nov. | 6010.3 | 1658.5 | 6015.4 | 1663.7 |
| 1998-Dec. | 6051.9 | 1668.2 | 6087.9 | 1681.6 |
| 1999-Jan. | 6080.9 | 1675.0 | 6102.9 | 1687.5 |
| 1999-Feb. | 6134.1 | 1702.0 | 6151.2 | 1725.6 |
| 1999-Mar. | 6132.3 | 1690.2 | 6172.0 | 1708.2 |
| 1999-Apr. | 6172.7 | 1699.1 | 6211.7 | 1700.3 |
| 1999-May | 6200.4 | 1708.6 | 6188.3 | 1715.6 |
| 1999-June | 6237.5 | 1723.9 | 6219.7 | 1720.1 |
| 1999-July | 6268.7 | 1730.9 | 6232.2 | 1707.9 |
| 1999-Aug. | 6299.2 | 1740.0 | 6265.7 | 1719.4 |
| 1999-Sep. | 6323.0 | 1748.7 | 6282.4 | 1723.0 |
| 1999-Oct. | 6378.4 | 1784.6 | 6346.7 | 1766.6 |
| 1999-Nov. | 6465.0 | 1845.2 | 6467.2 | 1849.9 |
| 1999-Dec. | 6551.5 | 1902.8 | 6597.1 | 1922.0 |
| 2000-Jan. | 6605.5 | 1929.9 | 6630.9 | 1946.2 |
| 2000-Feb. | 6642.2 | 1951.1 | 6661.1 | 1976.2 |
| 2000-Mar. | 6704.0 | 1983.4 | 6753.1 | 2006.7 |
| 2000-Apr. | 6767.3 | 1996.2 | 6812.4 | 1998.2 |
| 2000-May | 6776.9 | 2013.5 | 6765.3 | 2025.5 |
| 2000-June | 6823.6 | 2043.1 | 6805.1 | 2041.7 |
| 2000-July | 6875.2 | 2081.6 | 6836.1 | 2055.1 |
| 2000-Aug. | 6945.0 | 2116.7 | 6905.8 | 2092.4 |
| 2000-Sep. | 7003.5 | 2142.4 | 6957.5 | 2108.2 |
| 2000-Oct. | 7027.0 | 2147.9 | 6982.0 | 2120.2 |
| 2000-Nov. | 7038.3 | 2149.6 | 7043.7 | 2154.1 |
| 2000-Dec. | 7117.6 | 2186.3 | 7173.8 | 2211.1 |
| 2001-Jan. | 7237.2 | 2250.1 | 7259.5 | 2269.1 |
| 2001-Feb. | 7308.5 | 2281.3 | 7332.5 | 2311.3 |
| 2001-Mar. | 7372.0 | 2284.2 | 7428.5 | 2313.7 |
| 2001-Apr. | 7507.8 | 2358.4 | 7546.0 | 2357.6 |
| 2001-May | 7564.1 | 2414.8 | 7551.6 | 2427.0 |
| 2001-June | 7644.7 | 2456.4 | 7631.7 | 2455.9 |
| 2001-July | 7691.9 | 2470.1 | 7644.1 | 2437.6 |
| 2001-Aug. | 7696.3 | 2438.9 | 7658.0 | 2412.5 |
| 2001-Sep. | 7853.2 | 2484.1 | 7802.5 | 2441.9 |
| 2001-Oct. | 7897.8 | 2534.6 | 7845.9 | 2500.2 |
| 2001-Nov. | 7973.0 | 2568.2 | 7981.4 | 2574.7 |
| 2001-Dec. | 8035.4 | 2584.0 | 8105.8 | 2619.8 |
| 2002-Jan. | 8063.9 | 2586.6 | 8086.7 | 2613.2 |
| 2002-Feb. | 8109.3 | 2604.1 | 8128.1 | 2637.0 |
| 2002-Mar. | 8117.3 | 2604.2 | 8174.2 | 2634.5 |
| 2002-Apr. | 8142.6 | 2624.7 | 8171.9 | 2619.1 |
| 2002-May | 8175.1 | 2630.8 | 8159.6 | 2638.6 |
| 2002-June | 8190.8 | 2624.4 | 8184.9 | 2624.7 |
| 2002-July | 8244.2 | 2629.8 | 8202.6 | 2600.2 |
| 2002-Aug. | 8298.1 | 2645.0 | 8268.9 | 2623.1 |
| 2002-Sep. | 8331.5 | 2653.6 | 8285.5 | 2615.5 |
| 2002-Oct. | 8368.9 | 2642.6 | 8317.1 | 2608.5 |
| 2002-Nov. | 8498.8 | 2726.2 | 8513.4 | 2730.6 |
| 2002-Dec. | 8568.0 | 2767.4 | 8633.5 | 2801.3 |
| 2003-Jan. | 8588.1 | 2757.6 | 8602.0 | 2782.0 |
| 2003-Feb. | 8628.7 | 2759.1 | 8635.5 | 2789.6 |
| 2003-Mar. | 8648.8 | 2761.6 | 8694.4 | 2787.0 |
| 2003-Apr. | 8686.0 | 2757.3 | 8714.2 | 2748.9 |
| 2003-May | 8741.9 | 2758.1 | 8728.4 | 2765.9 |
| 2003-June | 8791.6 | 2767.8 | 8792.3 | 2772.7 |
| 2003-July | 8888.7 | 2815.5 | 8850.5 | 2787.4 |
| 2003-Aug. | 8918.2 | 2797.5 | 8902.7 | 2781.9 |
| 2003-Sep. | 8906.5 | 2806.6 | 8871.7 | 2780.2 |
| 2003-Oct. | 8896.8 | 2810.9 | 8852.1 | 2780.1 |
| 2003-Nov. | 8880.3 | 2800.9 | 8894.6 | 2798.7 |
| 2003-Dec. | 8872.3 | 2792.7 | 8927.8 | 2815.9 |
| 2004-Jan. | 8930.2 | 2841.9 | 8930.7 | 2859.9 |
| 2004-Feb. | 9000.3 | 2868.1 | 8993.9 | 2892.5 |
| 2004-Mar. | 9080.7 | 2907.6 | 9108.2 | 2927.3 |
| 2004-Apr. | 9149.6 | 2932.9 | 9178.3 | 2926.1 |
| 2004-May | 9243.8 | 2963.4 | 9236.2 | 2972.6 |
| 2004-June | 9275.7 | 2987.1 | 9281.4 | 2993.5 |
| 2004-July | 9282.7 | 2987.5 | 9257.1 | 2964.2 |
| 2004-Aug. | 9314.4 | 2997.3 | 9299.9 | 2987.5 |
| 2004-Sep. | 9351.8 | 3005.1 | 9333.8 | 2989.6 |
| 2004-Oct. | 9359.4 | 2990.3 | 9329.1 | 2965.7 |
| 2004-Nov. | 9395.1 | 2991.3 | 9396.0 | 2982.5 |
| 2004-Dec. | 9433.0 | 3011.1 | 9482.2 | 3025.4 |
| 2005-Jan. | 9487.2 | 3051.1 | 9479.3 | 3063.8 |
| 2005-Feb. | 9531.6 | 3076.2 | 9511.8 | 3096.3 |
| 2005-Mar. | 9565.3 | 3090.4 | 9584.7 | 3107.0 |
| 2005-Apr. | 9620.9 | 3139.9 | 9660.5 | 3136.6 |
| 2005-May | 9665.0 | 3175.5 | 9654.6 | 3186.4 |
| 2005-June | 9725.3 | 3209.3 | 9734.3 | 3215.5 |
| 2005-July | 9762.4 | 3226.4 | 9745.7 | 3206.5 |
| 2005-Aug. | 9864.6 | 3298.4 | 9852.8 | 3291.0 |
| 2005-Sep. | 9950.8 | 3354.3 | 9938.7 | 3344.9 |
| 2005-Oct. | 10032.0 | 3406.3 | 10005.7 | 3386.3 |
| 2005-Nov. | 10078.5 | 3431.0 | 10077.2 | 3416.4 |
| 2005-Dec. | 10154.0 | 3478.5 | 10201.4 | 3488.3 |
| 2006-Jan. | 10242.8 | 3506.0 | 10221.9 | 3515.2 |
| 2006-Feb. | 10298.7 | 3540.2 | 10276.1 | 3560.7 |
Now - I guess you had better round off that recent (February 2006) $10 trillion figure to $15 trillion US dollars in circulation today. Only three years was required to achieve this dramatic near-50% ($5 trillion) increase. Or, you could break out the Monopoly game board and use your US dollars as "Monopoly money."
Because the great majority of the $4-5 trillion in new dollars were created out of thin air, they were just "imagined" into existence by the Federal Reserve, if you will, as illustrated in Mr. Williams' chart below:
Let's look at the other sectors.How about unemployment? It's up almost double - from 10% in 2000 to 18% today.
GDP growth? Down from 7-8% in 1983, but not to 0%, as we are told by the authorities. Rather, US GDP growth is now running at a -4% annual clip.
How about the trade-weighted dollar? Well, it's been up since the financial system fell apart. Why? Because investors who are scrambling out of illiquid assets into US treasuries have to buy US dollars to purchase the Treasuries. But the "ascending" dollar has held only 55% of its value since 1985, and pretty soon, it is going to fall considerably lower than that, as it continues its death spiral.
So are we soon going to be getting back to normal?The answer? Not a chance.
All that's left is "the new normal" - an insolvent Federal Reserve, US money centre banks that are wards of the indebted US government, a US government that will never pay its trillions of dollars in mounting debts, and a US dollar that is spiralling towards parity with the Zimbabwean currency.
Want to know what the new normal is?
_1441086.jpg)
The new normal is that gold is money again, and investors are beginning to figure that out in larger numbers - as the market value of gold has continued to climb against almost all other assets.In fact, little known to most - the value of gold has moved to record highs this year in almost every global currency save the US dollar and the Japanese Yen. Let's close with a look at the market value of Canadian dollar gold (now $1150 Canadian per ounce):
Gold is the new normal. And the golden tsunami continues its roll to shore from the centre of the deep ocean. I'd guess we're continuing on our way to $6000 gold.9 February 2009: How bad can the general economic circumstances get? As mentioned previously, Mark Lundeen has been tracking the current stock market crash against the grand-daddy of them all - the 1929-1932 (89.16%) crash.
As Mr. Lundeen points out, the Fed has drained a further 11% of its reserves in just the past 6 weeks. Behind the scenes, the fundamentals have perhaps never been uglier - even in 1929! After all, in 1929, no one had even dreamed of a multi-trillion dollar derivative market, nor any of the other disastrous financial inventions of the recent ultra-bubble era.
So, have we seen the bottom yet? I don't think so. A bounce is due soon - probably a big one. But this bounce is likely to be only a hiccup on the way down as the Greenspan Depression continues its descent! Mr. Lundeen's best guess is that this decline will be at least the second greatest in US history, and as of right now, it is only 5th on the list (though in fact first for greatest one-year decline)!Bill Fleckenstein also noted today that the past ten years have been the worst ten year-period in history for US investors, reminding his readers that Alan Greenspan's easy money policies triggered the series of financial bubbles that morphed into the current meltdown...
"Give me control of a nation's money and I care not who
makes her laws"
Meyer Rothschild, the most powerful man who ever lived.
For many years the words international banker, Rothschild, Money and Gold have held a mystical type of fascination for many people around the world but particularly in the United States.
Over the years in the United States, the international bankers have come in for a great deal of criticism by a wide variety of individuals who have held high offices of public trust - men whose opinions are worthy of note and whose responsibilities placed them in positions where they knew what was going on behind the scenes in politics and high finance.
President Andrew Jackson, the only one of our presidents whose administration totally abolished the National Debt, condemned the international bankers as a "den of vipers" which he was determined to "rout out" of the fabric of American life. Jackson claimed that if only the American people understood how these vipers operated on the American scene "there would a revolution before morning."
Congressman Louis T. McFadden who, for more than ten years, served as chairman of the Banking and Currency Committee, stated that the international bankers are a "dark crew of financial pirates who would cut a man's throat to get a dollar out of his pocket... They prey upon the people of these United States."
John F. Hylan, then mayor of New York, said in 1911 that "the real menace of our republic is the invisible government which, like a giant octopus, sprawls its slimy length over our city, state and nation. At the head is a small group of banking houses, generally referred to as 'international bankers.'"
Were these leading public figures correct in their assessment of the situation, or were they the victims of some exotic form of paranoia?
Let's examine history analytically and unemotionally and uncover the facts. The truth, as it unfolds, will prove to be eye-opening and educational to those who are seeking to more clearly understand the mind-boggling events that have been (and are) taking place on the national and international scenes.
makes her laws"
Meyer Rothschild, the most powerful man who ever lived.
For many years the words international banker, Rothschild, Money and Gold have held a mystical type of fascination for many people around the world but particularly in the United States.
Over the years in the United States, the international bankers have come in for a great deal of criticism by a wide variety of individuals who have held high offices of public trust - men whose opinions are worthy of note and whose responsibilities placed them in positions where they knew what was going on behind the scenes in politics and high finance.
President Andrew Jackson, the only one of our presidents whose administration totally abolished the National Debt, condemned the international bankers as a "den of vipers" which he was determined to "rout out" of the fabric of American life. Jackson claimed that if only the American people understood how these vipers operated on the American scene "there would a revolution before morning."
Congressman Louis T. McFadden who, for more than ten years, served as chairman of the Banking and Currency Committee, stated that the international bankers are a "dark crew of financial pirates who would cut a man's throat to get a dollar out of his pocket... They prey upon the people of these United States."
John F. Hylan, then mayor of New York, said in 1911 that "the real menace of our republic is the invisible government which, like a giant octopus, sprawls its slimy length over our city, state and nation. At the head is a small group of banking houses, generally referred to as 'international bankers.'"
Were these leading public figures correct in their assessment of the situation, or were they the victims of some exotic form of paranoia?
Let's examine history analytically and unemotionally and uncover the facts. The truth, as it unfolds, will prove to be eye-opening and educational to those who are seeking to more clearly understand the mind-boggling events that have been (and are) taking place on the national and international scenes.
