Increase in Australian M3 in August

October 3rd, 2007

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In Degradation of Australia?s fiat paper money, we showed you the graph of the debasement of the Australian currency from July 1959 to July 2007. The M3 figure for August 2007 had been released- an increase from $874.6 bn to $897.0 bn. This means that within the space of 12 months, the money supply in Australia had increased by 18%!

P.S. See the comments on a clarification of the percentage figure.