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RE: Let's re-evaluate what we think about money

in #cryptocurrency6 years ago

The M1 money supply for Australia is about $351 billon AUD or $281 billion USD.

https://fred.stlouisfed.org/series/MYAGM1AUM189S
"M1 comprises notes and coins held by the public and demand deposits of the private nonbank sector in banks."

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yeah but demand deposits are counted seperately to notes and coins - which is essentially double counting in my opinion.

Even so... $351B is still a rather small percentage of the total sum of assets that the country purports to contain.