The M3 measure of money in the US increased by just over 25.5 percent in the year to May, the highest increase in the quantity of money in modern American peacetime history.

This is the conclusion reached by Professor Tim Congdon of the Insitute of International Monetary Research of US Federal Reserves statistics showing the increase in bank deposits.

Professor Congdon is vocal in warning that the current sharp acceleration in money growth in the USA and elsewhere, partly due to quantitative easing, will be followed by higher inflation.

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The M3 measure of money in the US increased by just over 25.5 percent in the year to May, the highest increase in the quantity of money in modern American peacetime history.

This is the conclusion reached by Professor Tim Congdon of the Insitute of International Monetary Research of US Federal Reserves statistics showing the increase in bank deposits.

Professor Congdon is vocal in warning that the current sharp acceleration in money growth in the USA and elsewhere, partly due to quantitative easing, will be followed by higher inflation.