EURO Money Supply

Eurozone M3 in 2014 was 10,108 billion. March 2017, M3 was 11,581 billion. In 3 years, M3 increased by 1,473 billion. The current Velocity of Euros equates to 0.000084.
Currency in Circulation in 2014 was 948 billion while March 2017 was 7390 billion.
200,000 EUR/USD Futures contracts X $5,000 per contract = 1,000,000,000 billion or 1 billion.
200,000 EUR/USD contracts X 100,000 Euros per contract = 20,000,000,000 or 20 billion.
Traders pay 1 billion to trade 20 billion or 9 billion above M3. M2 at 10,876 billion means trading 2x to 20 billion. M1 at 7390 means trading almost 3 times to 20 billion.

 

Brian Twomey

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