According to the US Federal Reserve data, there is $2.3 trillion in circulation and $3.5 trillion in reserve balance.
As of the end of 2024, around 55.4 billion US notes of all denominations were in circulation.
and
As of July 2025, the M1 money supply is $18.4 trillion.
In other words, if these statistics are correct, since trump took office, in approximately one year’s time, the total amount of USD in circulation has increased by over 40×. In case anyone’s not aware, that’s not a good thing.
That’s probably why he keeps saying “the economy is doing great.” He looks at all those dollars and thinks “we’re all rich!” not understanding or not caring that it means the actual value of the USD possessed by most ordinary people is actually being watered down by that increase, while the amount of USD they own is not increasing proportionally to the total amount of USD. (Or he doesn’t care at all and is outright lying, which wouldn’t be out of character. As long as his and his buddies’ bank accounts are going up due to bribes, extortion, and embezzlement, the economy is working fine for him…)
And that’s just physical bank notes! In about half of a year, under trump’s watch, the total amount of USD in cash and checking accounts has more than doubled.
Anyway, my point is, if you include savings accounts, mutual funds, and other M2 assets, the total amount of USD worldwide increases to $123 trillion as of January, 2026.
The US debt, at $38.5 trillion, is nearly a quarter of the total amount of M2 USD assets worldwide. Assuming the relationship is linear, printing that much USD would lower the relative value of each dollar to nearly 75¢ in today’s USD. That’s nearly 25% inflation overnight.
https://www.rankred.com/how-much-money-is-there-in-the-world/ (January 2, 2026)
Also, I find this tidbit interesting:
and
In other words, if these statistics are correct, since trump took office, in approximately one year’s time, the total amount of USD in circulation has increased by over 40×. In case anyone’s not aware, that’s not a good thing.
That’s probably why he keeps saying “the economy is doing great.” He looks at all those dollars and thinks “we’re all rich!” not understanding or not caring that it means the actual value of the USD possessed by most ordinary people is actually being watered down by that increase, while the amount of USD they own is not increasing proportionally to the total amount of USD. (Or he doesn’t care at all and is outright lying, which wouldn’t be out of character. As long as his and his buddies’ bank accounts are going up due to bribes, extortion, and embezzlement, the economy is working fine for him…)
And that’s just physical bank notes! In about half of a year, under trump’s watch, the total amount of USD in cash and checking accounts has more than doubled.
Anyway, my point is, if you include savings accounts, mutual funds, and other M2 assets, the total amount of USD worldwide increases to $123 trillion as of January, 2026.
The US debt, at $38.5 trillion, is nearly a quarter of the total amount of M2 USD assets worldwide. Assuming the relationship is linear, printing that much USD would lower the relative value of each dollar to nearly 75¢ in today’s USD. That’s nearly 25% inflation overnight.