You see, back in those (relatively)
halcyon days, the Fed got by with what now
seems like a modest - sized balance sheet, the liabilities of which consisted mainly of circulating Federal Reserve notes, supplemented by Treasury and GSE deposit balances and by bank reserve balances only slightly greater than the small amounts needed to meet banks» legal reserve requirements.
In the
halcyon days this was the rate of inflow every three days (it's important to note that crowdfunding amounts vary, but there
seems to be a general downtrend in the market from the data we were able to collect).