> This seems insane that a unit of account can just grow 25% in one year with no signs of stopping with no consequences The equation of exchange is MV=PQ, not

> This seems insane that a unit of account can just grow 25% in one year with no signs of stopping with no consequences The equation of exchange is MV=PQ, not M=PQ. The velocity of money (V) is falling right now as the money supply (M) is growing, that’s why increasing the money supply hasn’t had consequences (yet). https://en.m.wikipedia.org/wiki/Equation_of_exchange https://en.m.wikipedia.org/wiki/Equation_of_exchange