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M3: The wide-range monetary aggregate for the U.S. economy containing the combination of M2 (currency, checkable deposits, and assorted savings deposits) and large-denomination, institutional near monies. M3 contains financial assets that are relatively liquid, but not quite as liquid as those found in M1 or M2. The near monies added to M2 to derive M3 include large denomination certificates of deposit, institutional money market mutual funds, repurchase agreements, and Eurodollars. M3 is one of three monetary aggregates tracked and reported by the Federal Reserve System. The other two are designated M1 and M2.
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SILVER CERTIFICATES Paper currency issued and authorized by the U.S. Department of the Treasury that is, in principle, backed up by, and exchangeable for, an equivalent value of silver. Silver certificates were in circulation as a medium of exchange for the U.S. economy during two periods, 1878 to 1923 and 1928 to 1957. A similar form of paper currency is gold certificates.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"Success doesn't come to you . . . you go to it " -- Marva Collins, Educator
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M2
M1 plus savings types of near monies, including savings deposits, certificates of deposits, money market deposits, repurchase agreements, and Eurodollars
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