The global fiat money supply is often thought of as broken into different buckets, M0, M1, M2, and M3.7 M0 refers to currency in circulation. M1 is M0 plus demand deposits like checking accounts. M2 is M1 plus savings accounts and small time deposits (known as certificates of deposit in the United States).

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Ken Baldry London “Levelling up” is such a clever slogan – in two words it promises “jam tomorrow” for the masses plus a “don’t worry, we won’t touch you” for the well-off . But what our stagnant economy really needs is levelling down: for the poor to have a bit more, the rest must have a bit less.

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