Let's say the dollar completely dies off next week?
What would happen to us? Would it be Venezuela?
How would apartments handle rent? If the dollar is worth nothing?
Does this mean they would need to kick everyone out? Will there be chaos in the streets and people harming each other for food?
How do you think it will play out?
Here's the thing. You can't use previous examples of hyper inflation when making a predictive model of what would happen in the US. Why? Well it's simple. We're not a socialist nation. Every other example of hyper inflation happened in a moderately socialist nation. In places like Venezuela, they disarmed their citizens. In Japan, they were already disarmed by the post WW II treaties. So in every known example of hyper inflation, the people were disarmed and couldn't fight back against the overbearing government that caused it.
The US is obviously different. No only do we still have our guns, we have more guns than every other nation on the planet combined. This would probably be the final nail in the coffin before people (both normies and patriots) snap and pull a full on reverse coup against various state, local, and even the federal government. When everyone feels like they've lost literally everything and can no longer even afford to live the most meager peasant lifestyle because of the actions of a government they view as illegitimate in the first place, they'll not just riot. They'll drag politicians out into the street Benghazi style to execute them in the public square as an example.
And the thing is, no one could stop it. Not the police. Not the military. Not the UN. No one. Assume every single firearm in the US lies with 10% of our population. Not even remotely true, but I'm intentionally undercounting. That's roughly 34 Million armed, angry, people calling for the blood and death of every single politician and corporate leader in the nation. By comparison, the combined standing army of the three largest militaries in the world (USA, Russia, and China) is about 10 Million strong including reserves.
That's the main difference here. When hyper inflation hits, SOMEONE is getting blamed. And it's almost always the government and ruling class. The difference between the US and every other example, is that we still have the means to enact bloody vengeance on them for ruining our lives. Hence the fear they have since we're on track for this, but they haven't managed to get our guns.
So to answer your question in a blunt manner. One of three scenarios would occur. Either what I just described happens and we have an armed revolution overnight, which while possible, I personally don't believe is part of the plant.
Option two is a scenario like what happened in Japan. Reformat the current monetary system by increasing denominations of your currency to reflect inflation and enter "Zombie economy" territory where your economy does grow, quite rapidly at that. But you'll never be able to pay off your debt due to it growing at an equal rate to your economic growth.
Option three, the most likely in my opinion, is that it comes about as a controlled demolition where there will be chaos for a short period of time (A week or two) followed by a white hat takeover, and a debt default. Which would put us in an Iceland scenario where our currency is suddenly infinitely more valuable because it's not weighed down by the national debt anymore, and a large portion of it will be retired and pulled from circulation. This would of course, be followed by a new Gold Standard system which would further invigorate and revalue the USD, resulting in revival of the middle class and lowered cost of living across the board given we'll be back to a cost of living similar to what people had in the 50's, but with somewhat lowered modern wages. (40K in 1950 is like 120K today, so if people will see their wages lowered, but they'll go MUCH FURTHER.)
Best comment here! Exactly this and I vote for option three!
Hence your user name🐸
Always! And yours too lol
😁❤👌
Thanks for this!
This DOES NOT DESERVE to be tucked away as an innocuous little comment. It deserves its own post, and that post deserves to be stickied.
Thank you Cathole!
100% agree. Hmm cathole...any relation to catturd?🐸
great response.
it should be noted that both good guys and bad guys have guns.
Wild frontier time.