US Federal Reserve chairman Ben Bernanke has added $2.101 trillion dollars to the base of the U.S. money supply since September 2008 when the financial crisis erupted— is a 240% increase, according to a media report.
The Bernanke Fed, that has complete control over the US’s monetary base (currency and private bank reserves), is continuing its money explosion by adding $85 billion a month, the report added.
These are excess reserves that the banks are not required to hold. Over 54% of the monetary base, $1.616 trillion remains idle in the US’s private banks. These are excess reserves that the banks are not required to hold.