True Money Supply

True Money Supply (TMS), what Austrian economists call “money in the broader sense,” based on the definition of money as originally formulated by Ludwig von Mises in his Theory of Money and Credit.

Algebraically, TMS = Standard Money (held by the public) + Money Substitutes

TMS was further developed / brought current with varying degrees of differences and interpretations by economists Murray Rothbard, Joseph Salerno and Frank Shostak, differences this author has attempted to resolve in the essay Money Supply Metrics, the Austrian Take