PE33: Are credit cards part of the money supply? (XIII)

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

Contents

00:00 Intro

01:47 M0

02:48 M1 non-M0

03:33 M2 non-M1

03:44 M3 non-M2

07:37 Assets vs. Liabilities of CCs

11:40 Batching

13:18 CC purchase volume in 2022 = $9.56 trillion

14:40 Revolving credit USA

17:08 Credit card debt vs. Demand deposits

24:00 HALO Privacy

Bonus video on the US money supply! Which "M curve" do credit card purchases and debt fit into? The answer is... none! Credit cards are an entirely different type of economic activity than bank money, and state money, which we studied in the previous twelve videos in our money supply series.

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