"...workers at KK Park are subjected to 17-hour workdays and are frequently spied on, tortured, and threatened with murder when attempting to flee the compound.[11][17] Passports and cell phones of workers were confiscated to prevent unmonitored communication with the outside world. The complex includes supermarkets, hospital, restaurants and hotels to form a closed community.[citation needed] Illegal organ harvesting was also reported to take place inside KK Park.[4] KK Park victims could only leave by paying a "contract termination" fee which is calculated by the inflated cost of transportation and how much money the victims earned for the scam companies."
FUD / Citation required. Quick google search reveals you are incorrect (components of M2 shifted, and portions moved between M1 and M2, but M1 is a subset of M2, so there is no significant change to total M2 supply before and after).
Also Federal Reserve is not part of the US Government.
> Before May 2020, M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000) less individual retirement account (IRA) and Keogh balances at depository institutions; and (3) balances in retail money market funds (MMFs) less IRA and Keogh balances at MMFs.
> Beginning May 2020, M2 consists of M1 plus (1) small-denomination time deposits (time deposits in amounts of less than $100,000) less IRA and Keogh balances at depository institutions; and (2) balances in retail MMFs less IRA and Keogh balances at MMFs. Seasonally adjusted M2 is constructed by summing savings deposits (before May 2020), small-denomination time deposits, and retail MMFs, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.
EDIT: Of course since M1 is what really changed, M2 is effectively the same.
The comment you replied to was correct, as M1 was expanded to include savings deposits.
Here's a link to a Q&A about the change, and the relevant explanation.
"3. Why are savings deposits being recognized on the H.6 statistical release as a transaction account?
Posted: 12/17/2020
A. As announced on March 15, 2020, the Board of Governors reduced reserve requirement ratios on net transaction accounts to 0 percent, effective March 26, 2020. This action eliminated reserve requirements for all depository institutions and rendered the regulatory distinction between reservable “transaction accounts” and nonreservable “savings deposits” unnecessary. On April 24, 2020, the Board removed this regulatory distinction by deleting the six-per-month transfer limit on savings deposits in Regulation D. This action resulted in savings deposits having the same liquidity characteristics as the transaction accounts currently reported as “Other checkable deposits” on the H.6 statistical release.
To account for the change in their liquidity characteristics, savings deposits will be recognized as a type of transaction account on the H.6 statistical release"
So explaining M2 in terms of M1 only works if you include those definition in the equation. Otherwise it will falsely look like M2 fell by the amount that M1 rose.
Letting the LLM explain it more clearly than I can:
What exactly changed according to the FRED definition?
Before May 2020:
M2 included:
M1 (currency in circulation + checking accounts + other transaction accounts)
Savings deposits (including money market deposit accounts, MMDAs)
Small-denomination time deposits (under $100,000, excluding IRA and Keogh balances)
Retail money market mutual fund balances (excluding IRA and Keogh balances)
Thus, M2 = M1 + Savings deposits (including MMDAs) + Small time deposits + Retail MMFs.
After May 2020:
M1 was expanded to include savings deposits and money market deposit accounts (previously, savings and MMDAs were NOT part of M1; they were only part of M2).
Since savings and MMDAs moved into M1, the definition of M2 no longer needs to separately add these categories—they are already captured within M1.
Thus, after May 2020, the Fed simplified the definition to:
M1 itself was significantly expanded (now including savings and money market deposits), causing M1 to spike substantially overnight.
M2 overall did NOT lose or gain any category. It still includes all the exact same accounts and balances. It simply shifted the categorization of savings deposits and MMDAs into M1, so these no longer need separate listing when describing M2.
Fair enough. I'm pretty sure OP meant M1. My comment reads more like a "well akshually" than a useful point (since technically M2 changed, but not in a meaningful way).
> Also Federal Reserve is not part of the US Government.
Well, they seem to get along pretty well in any case :).
They changed the m1 definition in the middle of the largest m1 increase in history. It messed up all the graphs and you couldn’t get a sense of the scale of the printing.
I understood it as "do the bad habit, regret it, do a new good habit right afterwards." The aim is to rob the bad habit of whatever reward is attached to it and mentally transfer the reward to the good habit instead.
How about a third mindset, where after a bad habit, I do a good habit and feel that my bad is compensated by good one?
It will continue to encourage subconsciously that bad habits are o.k. if I do something else to compensate it.
For a simple example, I eat a lot of sugar and then do a 10minute exercise. Then feel good about it that my sugar eating is fine, as I will exercise afterwards anyways. But the exercise is separated from any rewards or motivation and will likely often get skipped when my willpower is low(time when bad habits set their claws on mind).
You could do that, but then you're being wilfully dishonest with yourself. At which point you'll find that you're not getting any closer to your goals (assuming those who switch out eating sugar for doing exercise want to lose weight). And if you're being (subconsciously) dishonest and self sabotaging, then the level of mind/abstraction this guide targets is not relevant
A coworker presented a demo the other day of this - asking LLM (I think it was OpenAI) to extract the text from a PDF - each page of the PDF passed as an image. It was able to take a table and turn it into a hierarchical representation of the data (ie. Column with bullets under it for each row, then next column, etc.)
The article links to an amazon search results page for "bathroom spy camera"
Here is the first result: "1080P Bathroom spy Shower Nozzle Hidden Spy Security Cameras Mini Camera DVR 32GB,Mini Nanny Cam Smart Home, Indoor Outdoor Baby Camera"
Kind of incredible that this still continues. They at least give some kind of cover for the use case of a "baby camera" but honestly even that feels so flimsy. This is disturbing.
> "This is a 1080P mini Shower shelf spy camera that looks like an ordinary can of Shower shelf. The camera is so well hidden that no one will know that the Shower shelf actually contains a mini bathroom spy camera. Because it is so well hidden, you can put it anywhere, even in the bathroom, and no one will be suspicious. "
I don't know who buys their "Shower shelves" in cans but this whole blurb makes no sense. The picture shows a shower head, not a shelf or a can.
The malicious intent is clear at the end of the quoted paragraph though. Not to mention that I wouldn't know where else to use a shower head other than "even in the bathroom".
For those in the Bay Area - Kirk Lombard author of The Sea Forager's Guide to the Northern California Coast (at least used to) do some guided tours harvesting flora and fauna of the Norcal coast. Enjoyable and informative. Here's the book
https://en.wikipedia.org/wiki/KK_Park