Finally some good news from the eurozone's money debasement scheme: the latest figures show that the M3 monetary aggregate is growing again. M3 is the broadest measure of money supply, encompassing:
Physical currency in circulation
Checking accounts (demand deposits)
Savings accounts
Money market accounts
Large time deposits
Institutional money market funds
Short-term repurchase agreements
This could be fresh food for a smaller boom-bust-cycle, which I think should soon unload in the grand finale of the larger credit cycle.
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