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Brad Poyner's avatar

Do you consider large, multinational corporations to also be contributors to the reduction in money velocity? How many times does money exchange hands before it ends up in Amazon’s bank account where it will virtually sit, untouched for all eternity? It can’t even be taxed out of existence because Amazon doesn’t pay taxes lol

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Franklin Lonberg's avatar

Monetary history is happening in the present! Namely the rise of crypto currencies. How does this fit into your theories? Can you imagine a world dominated by crypto, completely free from the control of any single government? Crypto has a built in mechanism for depreciation since each bitcoin has a date that is was mined associated with it. Crypto also would obviate the need for vaults and theft protection, since it cannot be stolen. The extreme volatility, which at present, prevents crypto from actually becoming a widely used currency, may be a 'birth pang' and may smooth out as ownership of crypto becomes more widespread.

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