Here are three charts from the St. Louis Fed depicting the velocity of money in terms of the MZM, M1 and M2 money supply measures.
All charts reflect quarterly data through the fourth quarter of 2012, and were last updated as of January 30, 2013. As one can see, two of the three measures are at all-time lows for the periods measured:
Velocity of MZM Money Stock, current value = 1.387 :
Velocity of M1 Money Stock, current value = 6.538 :
Velocity of M2 Money Stock, current value = 1.535 :
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1502.32 as this post is written