Velocity hit bottom

Velocity never hit bottom until 2017. It is float outstanding relative to bank transactions.  How often do we transact relative time time is a proxy.

Skew, folks. An economy that makes fewer but larger decisions, the bottom half of the economy relatively unbanked. Cause? My guess is the seigniorage tax filtering down into retail banking fees. We have become debt slaves.

The monetary zone has a limit to any ability of absorbing government monetary fees. At the bottom the corner grocer makes it work, and h cannot cover bank fees at 3% of price. This is where sandbox techniques fill in. We need the very lightweight intelligent cash card. Inelligence allows the corner grocer and customer to delay the Fed ledger until economies of scale justify the cost. Something the looks more like a credit card.