Commentary
There are many ways to measure the amount of dollars that exist today but let’s choose M2 because it seems most reliable for now. There are now 21.3 trillion dollars extant. That’s $6 trillion more than existed just three years ago.
For perspective, the entire USD money stock just ten years ago was $6 trillion. That means that in just three years, the Fed has enabled the creation of 40 percent of the whole of the existing dollar-based money stock. That’s how much the economic landscape has shifted thanks entirely to Congress’s dangerous and crazed spending frenzy and the Fed’s willingness to accommodate it….