A graph suggested by a reader, Chuck Beach, pointing out the historical high of the ratio of two measurements of the Money Supply M2/M1
M1 = is the narrowest measurement of the amount of money in circulation and money held in current (checking) accounts.
M2 = M1 plus money held in savings account or deposit which are not immediately available.
Data from the Federal Reserve
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Are you sure, that the vertical axis is measured in percentage? Because, if M2 > M1, then it shouldn’t be a number smaller than 100…