What the demise of the dollar means for you
What the demise of the dollar means for you
October 13, 12:34 PMColumbia Conservative ExaminerAnthony G. MartinPrevious
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For several months you have read the warnings issued by economists and columnists, including this writer, concerning the devaluing of the dollar and its ultimate demise. But what, exactly, does this mean for you, the citizen?
It would be too easy for readers to dismiss such talk as the musings of those who get their jollies from engaging in economic lingo, while missing the enormous consequences that the demise of the dollar will have on our everyday lives.
We are speaking here of a cataclysmic, seismological blow to our way of life as Americans.
One of the primary reasons Americans enjoy an affluent way of life when compared to much of the rest of the world is the primacy of the dollar as a world currency. Oil, for example, is bought and sold using the dollar. Thus, dollars are being pumped into various economies around the world for one reason alone--it is in great demand. This helps the American consumer by keeping the value of our currency up, keeping inflation down, and keeping our goods and services affordable to the masses.
But what happens when the dollar is devalued? Or worse still, what happens when global entities, such as the oil barons, stop using the dollar as their currency?
Here is where you and I come into the picture.
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let's see if I got this right,
right now, when china buys oil from russia, they do so in US dollars. and so do other countries around they world, that is a lot of ciculateing dollars, if they suddenly stop useing the dollar, they will all come home to roost?
we will be awash in dollars to the point they become worthless?
" the important thing is to never stop questioning, curiousity, has it's own reason for existing..
Albert Einstien
Knowledge is power, action is love.
yes, the vast majority of
yes, the vast majority of oil transactions happen in the dollar, so when this changes our dollar will no longer have the stability it has now.
if all the money (dollars) in country reserve accounts, and debt purchased by countries comes back to the US we would hyper inflate and soon you'll see wall murals made from 100,1000, 1billion dollar notes, just like we saw when Zimbabwe's currency hyper inflated.
“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” Plato
“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” Plato