MZM, Money of Zero Maturity, was meant to measure, accurately, true available liquidity. And the right way to measure this for forecasting purposes, is to take the percent change from a year ago. Here it is:
Current policy is stimulative, but nothing like either Greenspan after 2000, or Volcker after the impressive disaster of the first couple of years of Reagan.
And yet the Gold Bugs on this thread continue to yammer away and point to the dollar and the price of Gold, etc. Perhaps they should check into how much money is being managed in commodity pools/funds these days compared to just 2 years ago.
There is no question that these Commodity Funds have played a large part in the oil markets of late, speculating on higher prices as they have with Corn, Wheat, and most recently Soybeans . . . and now Gold.
