The global money supply has risen to a record level of 103.66 trillion US dollars. In August alone, the Federal Reserve, the European Central Bank, the Bank of Japan, and the People's Bank of China increased the money supply by a total of 1 trillion US dollars, marking the 10th consecutive month of growth.
Generally speaking, an increase in the amount of money in circulation tends to flow into assets such as stocks, gold, and Bitcoin.
In addition, Iran's crude oil exports plummeted from around 2 million barrels per day in March to 220,000 to 255,000 barrels per day in August, significantly reducing its export revenues and also narrowing the channels through which China could obtain discounted Iranian crude oil.
Due to the continued severe disruptions in the Strait of Hormuz, Asian buyers are turning to American crude oil. In May, South Korea purchased a record 1.1 million barrels per day, Japan bought about 602,000 barrels per day, and the total exports of American crude oil also reached a record of 5.6 million barrels per day.
Source Note:The author of this article is Anjali Belgaumkar, originally published on Coinpedia. The article contains the author's views and a disclaimer regarding investment risks. Advertising and sponsorship information have been marked in the original text.
