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This is the twenty-second installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.

Contents

00:00 Intro

00:26 Vault cash

08:27 Sight (demand) deposits - Fed discontinued

15:25 Components of deposits in USA

17:15 Adjusting for CIPC

19:17 Sight (demand) deposits - Porkopolis reconstructed

24:05 Vault cash vs. Sight (demand) deposits

31:13 Not the first time we've seen this low ratio

32:55 What then for a bitcoin standard?

Here we look at the total supply of vault cash (physical currency inside bank vaults) versus the total outstanding balances of sight, or demand, deposits in the United States. There are some unfortunate discontinued publications we need to review here by the Federal Reserve, as well as reconstruct our own comparisons. The demand deposit supply is also a component of the second, basic level of the various "M supplies;" that is, a part of M1 Money.

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