That is simply not true and M3 tells the investment community much more than you are willing to admit. We have contacted Politicians, news channels and writers like John Crudele of the Post [who understands your games] and we will press this issue. Stay the hell out of the Equity markets, you don`t belong there.

FRB.Mail@frb.gov wrote:

Dear Mr. Haggerty:

Thank you for your recent correspondence concerning the recent
announcement that the Board will cease publication of the M3 aggregate.

M3 does not appear to convey any additional information about economic
activity that is not already embodied in the M2 aggregate. The role of M3
in the policy process has diminished greatly over time. Consequently, the
costs of collecting the data and publishing M3 now appear to outweigh the
benefits.

Measures of large-denomination time deposits will continue to be
published by the Board in the Flow of Funds Accounts (Z.1 release) on a
quarterly basis and, for commercial banks, on the H.8 release on a weekly
basis. In addition, the Board will continue to publish institutional
money market mutual funds as a memorandum item on the H.6. All other
Board data will also continue to be available at www.federalreserve.gov.
Specifically, economic data will be available under the heading "Economic
Research and Data;" banking data, under the headings "Banking Information
and Regulation" and "Community Development;" and consumer data, in our
G.19 Release, "Consumer Credit" (under "Economic Research and Data") and
in our "Survey of Consumer Finances."

The Board's publications, press releases, consumer information and
brochures, testimony and speeches, the Board's regulations, legal
interpretations, and transcripts of meetings will also be posted on our
public website. From the same site, you can also access the Federal
Reserve System's Public Information Catalog (newyorkfed.org/publications/
frame1.cfm) of the Federal Reserve Bank of New York. You may also wish to
use the Index to Federal Reserve economic research, a more sophisticated
search facility, available at:
frbsf.org/publications/fedinprint/index.html.

I hope this information is helpful.

Sincerely,

JPD
Board Staff


IF YOU NEED TO REPLY TO THIS EMAIL, YOU MUST DO SO FROM OUR PUBLIC WEB SITE AT:
http://www.federalreserve.gov/feedback.cfm .

------------------------------------------------------------------------

First Name: kevin
Last Name: haggerty
E-Mail: haggs91@yahoo.com
Profession: Finance
Organization: Capital Mgt. Ltd
StreetAddress1: 200 highland rd
StreetAddress2:
City: Rye
State: NY
Country: US
Postal Code: 10580


Email Content:

your decision to not report M3 is essentially fraud and disruptive to the equity markets. That is data the public is entitled to see which helps to make investment decisions. What are you afraid of? will it help disguise your artificial stabilizing of the Market which is obvious to any student of the market. You raise short term rates and jawbone inflation when in fact your are printing money [M3] like $48.2 bill over 3 weeks [+8.3% annualized] $122 bill over past 8 weeks [+8.0%] and +$262 bill over past 12 weeks [11.5%] there has been a pause the last 2 weeks. Bad news is good news for the market because your PPT [plunge protection team] is stabilizing the market every time there is negative news and/or is there is something major out there you are concerned with. There will be a major push to get Congress and the Senate in addition to the public to stop this action you announced on Nov 10th. because there should be free and transparant markets