6 The US tries to hide it by "faking" half a trillion dollars of Treasury bills investment (if this link is to be believed)
The take/opinion/rant from Karl Denninger on Where Did The More Than $500 Billion Come From?
Deninger and Sprott contend that the household sector is not buying treasuries because they're poor and there are net outflows from MM funds. This is a graph of savings accounts plus MM deposit accounts (not MM funds) per person in the US.
I'm thinking this is an effect of wealth concentration, so I subtracted $100 bill and 4 people to account for Bill, Warren and a couple friends.
Don't worry, it doesn't change the result noticeably, and I was really just playing with the new Fred Graph tools. I still think the median person is poorer but don't know where to find that info, plus it doesn't matter for this analysis.
Here is just the savings for the last 5 years, up about a trillion since the start of the recession.Reading the latest H.6-Money Stock release
shows that MM funds are down about $200 bill. but currency and checkable deposits are both up about the same since Jul '08.
I'm looking at this because I'm buying bonds, I think the demand is, and will be, there. I'm thinking the real question is, if all this money didn't flow into the stock market, what made it go up?