On March 16th, according to the analysis of The Kobeissi Letter, the growth of the US money supply is accelerating: the M2 money supply rose by 3.9% year-on-year in January, the fastest growth rate in 30 months. At the same time, this is the 11th consecutive month of expansion of the money supply. Dollar in circulation has reached $21.60 trillion, just $16 billion below the all-time high set in April 2022. Meanwhile, the global money supply has increased by about $2 trillion in the past two months to its highest level since September 2024.