People need to understand the term “Monetary Velocity.”
There are plenty of coins out in the system. They just are not moving. At least not very quickly.
Sorry,,don’t buy the velocity argument.
People are out of work,, businesses collapsing,,income is in short supply. So logic says folks are digging the coins out of the couch and car seats so they can buy food, gas and stuff,,they aren’t hoarding it and lowering the velocity.
No,it’s classic constriction for political and propaganda and agitation IMHO.
But it’s really fun to ask cashier’s and bank tellers if the coins got raptured !
Right. You don’t use coins when 90% of everything you buy is through Amazon or UberEats.