Behind the Markets Podcast · Friday, September 4, 2026
The M2 money supply has increased at a 10% annual rate since the beginning of the Iran war, which is significantly lower than the 'blowout' rates seen during the pandemic. Previously, the M2 growth was around 4%.
“If I did my calculations right, since the beginning of the Iran war, the M2 money supply has increased at a 10% rate. Now, this is not anything like the pandemic at all, you know, which was, you know, blowout 30, 40, whatever percent.”
“But it was 4% before that for years, several, I mean, so you see an increase in money. Credit.”