M1 is made up of demand deposits and savings deposits held by the public. M2 consists of all cash in circulation plus money market mutual funds.

26:25 M1 money supply is at a record high. M2, cash in circulation is at a near record high.

30:30 Actual inflation right now, if it was measured the way it used to be is 9%, while the government says it’s 2%.

41:30 “The thing to watch here is the magnitude of the deficit spending, the stimulus…. The deficit spending is now out of control. The ratio of the deficit to GDP … is the highest level we’ve ever seen.”

John Williams – Gold Says Hyperinflation Straight Ahead