Or, not what you think.
You need to read Dr. Philip George, "The Riddle of Money Finally Solved"
http://www.philipji.com/riddle-of-money/
M2 contained non-M1 components which are contractionary. An increase in time deposits destroys money velocity.
You need to read Dr. Philip George, "The Riddle of Money Finally Solved"
http://www.philipji.com/riddle-of-money/
M2 contained non-M1 components which are contractionary. An increase in time deposits destroys money velocity.