TOP 5 Places to avoid when The Economy Collapses
The Nomad Economist: Premiered 18 hours ago
What will happen if the “Dollar Collapses” why are interest rates staying so low, what is happening with the massive increases in consumer, government and business debt?
What is the fate of the US dollar? How can you protect yourself and your family during the upcoming crisis?
What Will Happen If the Dollar Collapses?
Why a complete economic collapse in the U.S. is unlikely even if the dollar loses 100% of its value.
Disclaimer: This article is opinion based with likely scenarios derived from logic based situations. Discussion includes doomsayer fears, logical outcomes, and a good example of how currency value is subjective.
It is well known that the U.S. Federal Reserve continues to print money to pay down debts owed to countries such as China. It is also known that the Fed printed billions to “bail out” banks and create “stimulus” plans to boost the economy.
There are a lot of doomsayers on the internet and in media that say this devalues the U.S. dollar both locally and globally. Technically their claim is correct: each dollar used to be backed by actual gold; that backing was removed in the 1970s and ever since then money could basically just be printed up.
But this is where the doomsayers logic ends. Their belief is that because money’s value is only as good as the economy’s belief in it, the value can disappear because there is no gold backing the paper money.
Once confidence in the dollar is lost, many doomsayers say that the U.S. economy will completely collapse. A few popular predictions are being made across the internet and in the media by doomsayers: vanished and now gold is the only accepted currency. The concept cited is “hyperinflation.”
When the dollar collapses we will be thrown into a state of chaos and lawlessness. Money will be burned like in Germany a few decades ago due to lost value. People will steal and commit other crimes to stay alive and with no economy there will be no one working to maintain the infrastructure.
Gold and silver will become the standard once again. Which is oddly suspicious, because when you Google anything about the dollar collapsing, you get a lot of sites trying to sell you gold and gold trading schemes.
Since other countries are trying to move the World Reserve Currency away from the U.S. dollar due to decreasing value, the U.S. will be left high and dry by the other countries.
Countries will stop lending to us and the interest on the existing loans will default. What is likely to happen if the U.S. dollar collapses (based on something known as “logic”).