Bill Bonner & Dan Denning have spend months alleging the Federal Reserve has been increasing the money supply when the Adjusted Monetary Base has remained more or less constant. Bonner & Denning are wrong.
Gary North has pointed out the lack of change to the AMB. Read the MZM and M1 charts linked from the Fed at
http://www.garynorth.com/public/department29.cfm
I have intense and profound respect for Denning, Bonner & North. They are smarter than me as light is over darkness. Even so, none of them are right in everything they write. The point is this: if their fundamental assertions are flawed then the resulting analysis will be flawed. Including buy and sell recommendations.
Listen to everybody, but listen critically.
Before any Bonner fans flame this post: I confess I am only an idiot.
Good luck to all of you.
LNC Price at posting:
0.0¢ Sentiment: None Disclosure: Held
