Yes, for most of the year. Hence the velocity has crashed, we buy from Amazon or Walmart, who maintain internal inventory turnover, then pay our taxes in Q1. The M2 velocity sitting at 1.4 tells us this.
But we will also avoid the banking tax for the same reason. And we will use the same method, shadow banking where taxable transactions are internal. Government, or central banking, are both stuck with the productivity norm, people avoid non-productive purchases.
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