BREAKING: The US M2 money supply surged +4.8% YoY in July, to a record 22.12 trillion. This also marks the 21st consecutive monthly increase. Growth has accelerated since July 2024, when M2 rose just +1.6%. By comparison, the long-term growth rate has averaged 6.3%, largely driven by the pandemic period. Meanwhile, inflation-adjusted M2 money supply rose +2.0% YoY last month, the largest increase since February 2022. The US Dollar's purchasing power continues to erode.(The Kobeissi Letter)