Money SupplyA dynamic chart showing the various measures of the money supply is available at

The True Money Supply (TMS) was formulated by Murray Rothbard and represents the amount of money in the economy that is available for immediate use in exchange. It has been referred to in the past as the Austrian Money Supply, the Rothbard Money Supply and the True Money Supply. The benefits of TMS over conventional measures calculated by the Federal Reserve are that it counts only immediately available money for exchange and does not double count.

How money is counted is crucial to the economic debate, particularly around “quantitative easing”: more.

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