Global money supply is out of control: the global money supply has now reached a record $45 trillion. China's M1 money supply has risen to $16.5 trillion, a historical high. China is currently the world's largest producer of Narrow Money, accounting for about 37% of the global total. Meanwhile, the U.S. M1 money supply (, excluding savings deposits ), has reached a record $8 trillion, accounting for about 18% of the world's total. Global Liquidity is increasing. However, currently, this liquidity has only entered the U.S. stock market and precious metals market, with only a slight spillover into Bitcoin, as the core reason remains that the crypto world narrative has been discredited. The market is not lacking in funds, but rather in good narratives. #现货黄金再创新高