We had a 40% increase in the money supply from March of 2020, the beginning of COVID when it struck until March of this year. We are not going to go down to the pre-CO VID level. That would require unbelievable tightening by the Fed. To get back to that means you can't keep on having this money supply go down. And yes, from March to now, it is astonishing that it is happening in the absence of something like the gold standard,.

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