In recent months, the currency component of M1--currency circulating outside of banks--has taken off like a rocket. In fact, since August 2008, just before the financial crisis really erupted, circulating currency has risen 9% in those seven months alone. This is the fastest growth rate for any seven-month interval since World War II.   More 

With banks, rapid growth can be a red flag. Well, one of the fastest growing banks out there in recent years has been the Federal Reserve Bank of New York.   More