Can we count the ways?
Reader CB poses an interesting question:
“For you deep thinkers, I would appreciate some assistance with a tough question:
How many dollars (American) exist?”
It’s a fitting question for the Federal Reserve thread where it appears, but the thread is getting longish and the question deserves its own space. So here it is.
Hmmm … no deep thinkers having weighed in yet, I’ll take a stab at it. The first hurdle is that the number is constantly changing, so any specific number would be outdated before I could finish typing it.
Another hurdle is that it depends on how you define dollars. One measure would be actual paper currency in circulation, cash. Another would be M1, the total of cash and demand deposits (checking accounts). Another broader measure would be M2, the total of M1 plus less liquid forms like savings accounts and money market funds.
For the actual numbers, I know of no better source than FRED, which publishes snapshot estimates at regular intervals like weekly, monthly, etcetera, historical data series and detailed identification of what each data series includes.
Its almost impossible to calculate ……………..how many stars?
Mega’s dispatch from England:- Like tears in rain
As expect the PM, our beloved “Leader” took time out spending time with his young Ukraine male friends to visit Parliament today. It was the big welfare reform vote & he raised the white flag faster than Carny did in Canada to Trump over on line taxes & rules.
In short he folded up like a wet newspaper.
So, having smelt blood the pack is now circling…….the hard left of the Labour party wants its party back. Starmer’s time is limited now but what caught everyone’s eye is the reaction to the loss by the Chancellor Rachel Reeves.
She sat next to the PM & openly cried when he in the process of surrender. He refused to back her & she was deeply distressed.
THe question is why?
Because of Starmer back tracking on winter fuel payments & now this it is now a dead cert that taxes will have to go up YET again? We are already the most taxed public since WW2 & let me assure you not a day goes by were the government has stepped in to bailout everything from Rail transport to Lotus sports cars.
Am not sure but i suspect the IMF will be calling in on Blighty & they only play ball IF the nation has a leader …..one that’s will to play HARD ball.
Mike
Trump’s bill past?
Happy 4th July everyone………… 🙂
& remember your all free because Russia sent its navy to protect you during the civil war!
Happy Fourth!🧨🎆
https://www.telegraph.co.uk/business/2025/07/04/trump-has-proved-his-doubters-wrong/
Mike Maharrey exposes years of “growth” as inflation:
Price Inflation Accounts for Entire Increase in Retail Sales Since Pandemic
He also correctly points out that since the CPI understates price inflation, the data imply inflation produced a decline in living standards.
Same here, “Growth” = inflation
Elon want to “Party”
https://x.com/Megatron_ron/status/1941587641042194859?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
Mega’s Dispatch from England:- Tax the “Rich”
Minister ‘holds dear Labour values’ that ‘those with broadest shoulders pay more tax’
Speaking to Sky’s Sunday Morning With Trevor Phillips, former Labour leader Lord Neil Kinnock called for a 2% tax on assets above £10 million to raise in the region of £10bn a year for the public finances – a sum Rachel Reeves could do with right now.
Sky’s Wilfred Frost asked minister Stephen Morgan if that is an option.
He replied that the government’s “relentless focus” is on growing the economy, and that matters of taxation are for the chancellor.
Specifically on a wealth tax, the minister pointed out that they have already put a tax on private jets, and on the ballooning profits of energy companies.
“I think we’ve already taken action on that,” he said, adding: “I hold dear the Labour values of making sure those that have the broadest shoulders pay more tax. I think that’s absolutely right.
“But our focus is on growing the economy. And the chancellor will set out more details in the autumn.”
Asked if fuel duty will remain at current levels, or if that is included in Labour’s pledge not to raise taxes on ‘working people’, the minister said: “I don’t know.”
Finally, Wilfred asked if, given the chaos in the world, the government might have to break some of its manifesto pledges.
Morgan replied that they want to “go further and faster on delivering our plan for change”, and did not address the point.
Mega’s Dispatch from England:- The Rich will eat you!
The latest knee jerk reaction was to the fact that the Labour party (Government) is about to split in 2. Without a REAL leader the political turmoil is starting to boil over.
We have the VERY real prospect of having TWO labour party teams….Hard Left & pink Tory right. Right now the “Pinks” are just holding on to power, with clear control from the establishment (Pro Israel/Ukraine war etc) but soon it might be a Hard left take over (Pro Palestine/end Ukraine war).
May you live in interesting times.
As EJ used to say “Its a process not an event”
Grab your pop corn!
Mega’s dispatch from England:- The Parting of the ways.
Since America signaled that YES they agree to a muti-polar World a few weeks ago there have been some movement with in Blighty, Suddenly the French are “Cool”.
This sudden development is happening now with a FULL state visit for French Prez. So far we had agreements on stopping the “Boat people” crossing the channel (we see if anything pans out on this one)……..but something MUCH bigger is underway, Nuclear talks.
I don’t mean Nuclear power Am taking NUKES here.
Not very long ago Britain “Tested” two ICBMs fired from one of our aging Trident subs. The 1st failed just after broke the surface, the 2nd pissed off in the wrong direction, heading towards New Jersey last seen.
This was a message from Team America that they were no long interested in giving Blighty excess to its Nukes Weapon systems. Forever we were told that it was Britain’s “Independent” missile system………….then bit by bit the truth came out.
The Missiles are loaded onto Uk subs, they are guarded by US Marines & the ship sails WITH AMERICA NAVY OFFICERS on board whom can fire the missiles, not the British!
Given the rumour that after NS2 was blown up one of our missile boats on patrol experienced a “Sudden” problem which meant it had to surface & was then “None Operational” eg Britain
was defenceless!……………………& the US didn’t blink.
So the Limey scum are now getting into bed with the French……..both massively over debt has been nations with little going for them. They need to club together to build the next gen Hypersonic ICBMs………because bankrupt or not there is NO WAY these two sh1t heads are going to leave the nuclear club.
So, what can we see?
NATO LOST
NATO IS GOING
NO Article 5 baby
This is now very dangerous time, America leaving the little prick nations might try to play hardball with out “Daddy” & get nuked!
Mike
Jim Rickards on Tariffs
https://www.zerohedge.com/news/2025-07-11/jim-rickards-why-tariffs-work-and-lie-theyve-told-50-years
Let me guess…………….this is a DNC state?
https://www.carscoops.com/2025/07/mileage-tax-proposal-emissions-freedom-to-move-act/
Mega’s dispatch from England:- Defeat has an odar …..& it stinks
Bit early to be sure but i think the West just blinked……
Reports that Poland & others will NO LONGER allow arms to be sent to Ukraine via their nations. Now just breaking is the news that US will ONLY supply weapons IF NATO nations pay for them!
While it might be possible that some “Wonder weapons” appear to save the day i think it more likely that its the end of “Project Ukraine”. Am sure much will be written about this, but for me the US forgot the lesson of Vietnam……that is you don’t fight half hearted, you lose if you do.
While this time around the US will be spared the slight of the Viet-com driving tanks into their Embassy or having to throw helicopters over the sides of ships there is no hiding this as nothing other but a Blood defeat.
It Stinks…………..& for the Euroscum & City of London its a disaster.
More to come………