Comment: FRN death spiral is enroute

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FRN death spiral is enroute

The Feds derive their power from the value of the dollar. Without a valuable currency, soldiers won't listen, drone pilots drag up, etc.

It will all go slowly at first, as the Federal Reserve Note loses its appeal and more people accept other means of exchange. As interest rates rise, and money printing goes into overdrive, it will accelerate faster and faster. We might all be trading in gold and silver, Chinese yuan or rubles, but I suspect the dollar's days are numbered.

Governments rarely survive the collapse of their currency, because the currency is the source of their power.

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

Also author of Stick it to the Man!