Global money supply is out of control: Global money supply is now up to a record $45 trillion. This comes as China's M1 money supply has risen to $16.5 trillion, an all-time high. China has driven the majority of global money supply growth this year. China is currently the largest producer of narrow money in the world, accounting for ~37% of the total. Meanwhile, the US M1 money supply, excluding savings deposits, is up to a record $8 trillion, representing ~18% of the world's total. Global liquidity is expanding.(The Kobeissi Letter)