Inquiring minds are once again digging deep into money supply questions. They are intrigued by the fact that money supply measures M2 and TMS1 are plunging towards zero, while TMS2 is still sporting a hefty 10+% year-over-year growth. TMS stands for “True Money Supply”. The suffix (1 or 2) stands for alternate measures, one including savings accounts and the other not. M2 is a widely used Fed aggregate for money. This looks technical (and it is), but please bear with me. I can …

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Money Supply Divergence – TMS1 vs. TMS2 vs. M2 – What does it Mean?