Brother iamai mentioned a very good topic that is worth exploring in depth. From a personal perspective, if AI can significantly promote the speed of currency circulation, it means that there is a high probability that a scenario has been achieved: the era of intelligent economy or machine economy has really arrived. The impact of AI on the velocity of money circulation directly points to V (velocity of money circulation) in the classic economic formula MV=PQ (quantity theory of money). 1) V=the average number of times money is turned over during a certain period of time (i.e. how quickly money is turned over). 2) The higher the value of V, the more the same money supply (M) can support greater economic output (Q) or higher price levels (P). I understand that what iamai wants to express is: if AI can make money flow faster in the economy, would the overall situation be better from a broader perspective? This brings us back to the beginning of the conversation. If AI can significantly promote the speed of currency circulation, it means that a scenario is likely to be realized: the era of intelligent economy or machine economy has really arrived. This means 1) In the Agent economy, AI robots/agents can instantly complete transactions, payments, and settlements (with almost zero friction); 2) Automated financial processes, real-time supply chain optimization, and disintermediation of payments will all make money "transfer faster"; 3) Moreover, in history, technological revolution (such as Internet and mobile payment) has significantly improved V. If V is significantly boosted by AI, it is equivalent to amplifying economic activity without increasing M (money supply), which can: 1) Hedge against macroeconomic tightening pressure; 2. (Simultaneously making inflation more "benign" (driven by growth rather than purely monetary); This point can be emphasized. One of the important policy propositions of the new Federal Reserve Chairman Walsh is his belief in AI as a structural anti inflationary force (the most optimistic solution). Previously, here is https://(x.com)/qinbafrank/status/2048568392643465426? S=46&t=k6rimWsEbo2D2tXolYcM-A also talked about: he repeatedly stressed that AI is "the most productive wave in our life", similar to the Internet revolution in the 1990s, which can significantly reduce cognitive costs, improve productivity, and make the economy "hot" without pushing up inflation. Almost all costs will decrease, and the United States will become the big winner. This is not a short-term excuse, but a long-term supply side structural support - the productivity boom creates space for interest rate cuts and low inflation. The core is that technological progress drives a burst of productivity, drives the improvement of production efficiency, and is essentially deflationary. This will make the "reset risk" brought by AI capital expenditure less terrifying. From this perspective, the boosting effect of AI on the velocity of currency circulation will actually raise the ceiling of macroeconomics. From a long-term perspective, it can indeed make the overall market/economy more optimistic.