By which we mean the folding stuff (and coins) issued in 137 countries. Compound annual growth in the real money supply since 1971 is 9.09 per cent, according to Dollardaze.org, where Mike Hewitt has been crunching the numbers:

Related links:
When the facts change, change the measures (and hope for the best) – FT Alphaville
Money supply and the QE tea leaves – FT Alphaville
The velocity of money and the US dollar – FT Alphaville

