We're in essence in stagnation because of low interest rates - assuming that's the cause and not the effect.
So now we're gonna go back to a demonstrably deflationary regime ( the gold standard ) and raise reserve requirements to 20%?
How is that not even more deflationary?
The feds fund rate has been set to near zero for almost 8 years. This is acts as the baseline cost of credit in our country and given our global financial stature, the world.
I presume you mean QE{I,II,II...} ? Those have been zero velocity efforts; buried in the back yards of big banks without a trace. Increased reserves with interest being paid on them.
You're right, of MV = PT they have only manipulated the M (Money supply) so far.
But unless this destructive dogma and school of thought is put to an end they will begin to institute velocity efforts during the next crash since rates are essentially zero and it's all they'd have left: wealth tax or applied negative interest rate on deposits, helicopter money, etc.