That's a graph of growth, so every year it's above zero there's "the most money in history"! That graph is actually a neat indication that the correlation isn'

That's a graph of growth, so every year it's above zero there's "the most money in history"! That graph is actually a neat indication that the correlation isn't particularly strong for two variables with an established causal relationship, and that inflation (high by recent standards; normal for most of the 20th century) actually kicked in properly as the money supply started to fall, at the time we were subjected to a supply shock. Australia's money supply curve represents a much smoother upward trend compared with the US, but their recent inflation spike mirrors that of the US