Oddbean new post about login | logout GM US Money Supply decreased by 2% in 2023, which is the largest annual decline on record with data going back to 1959. https://image.nostr.build/a065c174b289e251bacac34091dff96daffadd49c01286c2d65c83846f6df88e.png
supply went down yet #bitcoin price still went up. what happens when we revert to the mean π
GMβοΈπππ«
Periods of rapid change, or prolonged debasement, erode societal trust. nostr:nevent1qqs0jf4czcgnq6rddxrd72lpdegzf5x7gx3kenzce3a0cqd8c3cvdqcpzpmhxue69uhkummnw3ezuamfdejsyg9expy6dcj50gm2w6fdjrjt42qfqyjjv964g6shxd69fhhe4d5axqpsgqqqqqqs7f7l5k
GM @StackSats Have a great day https://image.nostr.build/05479a9c144df9f301c9541b08675404e7c2bf9aa180aed77b31529fbe1082e6.jpg#m=image%2Fjpeg&dim=1792x1024&blurhash=iCECUbi_00E3%25fIo-%3AIpD*%7EV9ZMx%3FaOE9Zxt%252My9HNGtQ%25Lja%250E2spoe9GXS%25fslD*aft7-ooy9FW%3D-%3ARislxuoMM%7Cf*&x=8da7f84cf433262ea51bd3cc0f7bf612572009e4e9cf2da69c04fcbec8bf2a97
Nature is healing, lol π
The Fed is trying to normailze. But the US government is still spending like a drunk sailor. M3 includes debt deposits up to 2 years and institutional money market funds. It captures more of the government money printing. It's chart shows money supply is still going up. Printers gonna print.
US M3 deflated too in 2023. However, I prefer to track global M2, it has such a high correlation to bitcoin price. https://image.nostr.build/a118b92db6dfac2f79be091c851df15d731cae9e90a2bd48f7ab613ed5c44a3c.png https://image.nostr.build/3197089e9cbe0c3ad5851a5d55fb0632bfe8826748273c17759f3545fa557203.jpg https://image.nostr.build/a7653c92872a89c3aa4ef5462a2eafd502f61828c00395c2562b9b6f56f4eeaa.png https://image.nostr.build/39be0f34c1a358d6142b69d03e775922ccf838b42b62a242790ac3b3a357b65f.jpg
not hard to have a decline when the money supply grew in just one year 2019-2020 by the same amount as what the TOTAL money supply had reached by 1996
