I'm no expert on the Austrian school of economics, but as I learn more it is about the only explanation of what is going on in our financial world that makes sense to me. Maybe it is just because I'm uneducated and going by logic suits my education level more than complicated  formulas and models. Maybe it because the Austrian School has it right and the current economic models and thinking are wrong. Twenty years from now, long too late to do anything about today,  we will know for sure. LOL

This is an interesting article (not too long) that talks about the velocity of money and attempts to debunk its usefulness in economic terms. I'll let you be the judge. Makes sense to me.

Is Velocity Like Magic?  Frank Shostak, Mar. 20, 2002

John

Edit: updated M2 money supply - you can be the judge for yourself if inflation has followed money supply since the article was written in 2002