Hello for the rebel capitalists, hope you're well. I'm here with my good friend Lynn Alden and we are going to dive into the depths of the monetary system.

It's going to be a very fun conversation. Welcome to the show, Lynn, glad to be back. Happy to be here,

always happy to come. All right, now you did an interview the other day with

Snyder and

Peter McCormick and the very first question I think it was great interview but I think it got the interview off in the wrong foot because there's so many different definitions so I think the first question was does the Fed print money and I think you got to get a little

more granular than that because that can mean just an infinite number of things.

I think what most people really want to know is does the

Fed's balance sheet or how does the Fed's balance sheet actually impact M2?

Because you know when you're talking about printing money, what most people are trying to determine

is if that's going to impact consumer prices.

And so we know that the amount of currency units that are chasing goods and services, you can kind of say

that's M2.

I mean, I would take it down for checking and savings because of high velocity money and low

velocity, but overall I think the normy is just

when they hear money printing or does the Fed's balance sheet increase does that

mean it's money printing they're really looking at it in terms of how M2 goes up or down.

Do you think that's accurate to say?

Yeah, I think so.

I mean, I think that's also going to, at the end of the day, affect what prices do.

So the base money as that changes that has

various implications for other parts of the monetary stack but the end of the day

the amount of money in our account determines you know what kind of spending power we have and so at the end of the day

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