It seems baffling and possible cause for concern that the Federal Reserve Board stopped reporting the most useful U.S. money supply index, known as M3, in March. Why would they do this? One possibility is that they are trying to conceal that they are literally printing money as a way to pay down the U.S. federal deficit and national debt. Alan Greenspan is known to have used this strategy fairly often, and injecting liquidity by printing hundreds of millions of dollars may certainly be a valid tactic. However, this tactic can have very adverse consequences. Imagine if the Fed decided to print twice as much money as we currently have in circulation. What would it do? It would cause our money to be worth HALF its current value (so if you're earning $50,000 per year, your spending power would decrease to such an extent that your money would be worth only $25,000. Devastating, potentially.
Further, there is much evidence suggesting that the Fed under Bush is not worried about the worker's spending power, but in fact wants to restrain worker income, while helping the corporations and wealthy individuals increase their income as much as possible. So the Fed's decision to stop reporting M3 (that is, to stop telling the American people how much money it is printing) may be seen as part of an overall policy to restrain workers' income growth and redistribute wealth to the wealthiest Americans.
link:
http://news.goldseek.com/...
"Fed chief Bernanke told Congress that his March 24th decision to stop reporting the M3 money supply measure was designed to save the US taxpayer's money. However, the yield on the US Treasury's 10-year note has surged 40 basis points higher, since the Fed abandoned M3 reporting. Without the transparency of M3 reporting to monitor the Fed's money printing operations, traders sold US bonds and turned to gold in April, as a safe haven from the US central bank."