Thanks for following me and responding. I really appreciate it. I work in financial research and blogging this kind of stuff is a distracting hobby.

I think the calculus of things like the velocity of money is a side show from the human aspect of money’s actual human purpose. You can track money velocity. You can track m1 and m2 and m3, etc. You can track GDP, GNP, and so on.

But at a certain level, money is based on trust. It’s based on a human component that’s not measured by a statistic. I don’t know of a statistic that measures human faith in an abstraction. Perhaps the inverse is more informative: what’s verifiable that’s measured by people’s lack of faith in some central bank’s balance sheet? The answer: gold, silver, and maybe crytpo.

The counter-example to the hegemony of the dollar is how much gold the US Treasury/Federal Reserve lay claim to.