Agreed, the M2 chart is a better illustration of what (I assume) GP is attempting to represent. https://fred.stlouisfed.org/series/M2SL https://fred.stlouisfed.

Agreed, the M2 chart is a better illustration of what (I assume) GP is attempting to represent. https://fred.stlouisfed.org/series/M2SL https://fred.stlouisfed.org/series/M2SL