Absolutely. I guess what I am saying is that Money Velocity will start to pick up again when people start to get confident the worst is behind us. At that point all the printed money floods back into the economy and gives us a massive inflation hit.
I think we could be at that inflection point right now and Money Velocity could be bottoming right now. That's the good thing about posting on an immutable blockchain. We can come back in a few years and see if I was right ;)
We have a bunch of new bills being introduced over here about a new Crypto Dollar being created....soon. After the election I think we'll see many months of confusion due to the mail in voting BS.
I think they will then use the new dollar to try to stimulate the economy. From what I've read the new "banks" will be the Post Office. Then they can give you free digital dollars but will have a short expiration. Guessing that is their plan to get velocity moving again. How ever it plays out it will be a shit show and we'll try to drag the rest of the world along with us. LOL
Yes, it is frightening. A UBI style crypto-currency with an expiration date on it to prevent any kind of saving. Plus the worst of element of crypto tech - Full surveillance capability. The masses will love the free money (at first) but anyone with half a brain knows where this will take us.
Here in Australia we will follow. We always do.