what up with that chart 📊
the usa is an asset?
eurozone is an asset?
china is an asset?
japan is an asset?
dude...it's just a small ESL misnaming.
He meant the currency of the country value in comparison with bitcoin or gold (in $$).
However, bitcoin is not just a currency as we all know.
The numbers are wrong anyway: USA M1 is 18 tril
M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other liquid deposits, consisting of other checkable deposits (or OCDs, which comprise negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions) and savings deposits (including money market deposit accounts). Seasonally adjusted M1 is constructed by summing currency, demand deposits, and other liquid deposits, each seasonally adjusted separately.
https://www.federalreserve.gov/releases/h6/current/default.htmCirculating currency in US (I assume) is 2.35 tril:
https://ycharts.com/indicators/us_currency_in_circulationI am not sure where eurodollars are counted...based on the definition above, those are probably outside of M1.