M3 & M4!
They are motorways in t he UK?
Discussion
🤣
M4 is the broadest measure of money supply and includes all forms of deposits that can be converted into cash and used for transactions. Every credit unit that a bank creates out of thin air fall under this definition because it can be converted to cash or equivalents.
Do we know what this figure is globally?
There are estimates around 500 trillions, bonds included of course.
But I’ll say is much more because of all the shadow banking system.
How does that fit into the generally quoted:
$454T of global wealth
And
$315T of global debt
https://www.visualcapitalist.com/global-wealth-distribution/
https://www.weforum.org/stories/2023/12/what-is-global-debt-why-high/