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According to this book i am reading, essentials of real estate economics by mckenzie and betts: M1 refers to coins, paper and demand deposits (checking accounts). M2 is M1 plus things that can be converted quickly to money-CD's,money market accounts. M3 is M1 + M2 plus large CD's over 100,000.
Whenever I think of money i always think first of an amazing paragraph written by the novelist Henry Miller, somewhere in Tropic of Cancer i think he writes; To walk in money through the night crowd, protected by money, lulled by money, dulled by money, the crowd itself a money, the breath money, no least single object anywhere that is not money, money, money everywhere and still not enough, and then no money, or a little money or less money or more money, but money, always money, and if you have money or you don't have money it is the money that counts and money makes money, but what makes money make money?