This is just fear mongering and doesn't even begin to approach the complexity of reality.
Did you know that some countries devalue their currency on purpose, so they're able to be more competitive in global trade?
Take John Doe. He makes 60k a year making autos. His monthly house payment is $800.
Tomorrow the US dollar is halved vs foreign currencies, what bad things happen?
Does John's house payment go up? No.
Does his job halve his salary? No.
Is his job security at risk? No. Why would it? Overnight, the cost of US made vehicles was halved. Sales abroad will probably increase 1000%. That'll make the demand for manual laborers in the US increase 1000%. That will increase Joe's salary, because workers for his type of position are now 10x in demand.
Not to mention that suddenly, China can't compete in the US (they can't afford to operate here receiving only half the income for products they used to get when the US dollar was higher). Who is suffering if the US dollar collapses? All the countries who dump their products here ...
Did I mention some countries devalue their currency on purpose?
I can tell you why the dollar crashing is bad -- for the cabal.
Trillions of dollars are loaned in US dollars. If, overnight, the value of dollars is halved -- then countries and foreign entities suddenly only owe half as much on their obligations.
It makes what the cabal can buy abroad twice as expensive.
But John Doe is ok, because he wasn't going to be buying a Caribbean island any time soon.
Reality check -- they've been saying the dollar is going to crash for at least 30 years since I've been paying attention.
I get paid in US dollars but the company I work for pays in foreign currency. My salary in the last 12 years has increased, and 44% of the increase is from nothing other than the increase in the strength of the dollar alone.
Anyone reading these boards knows that food scarcity isn't due to the US dollar. It's due to the cabal actively destroying food production.
Anyone reading these boards knows that riots aren't due to a collapse in the US dollar. They're due to Soros paying people to riot.
Anyone reading these boards knows unemployment isn't due to a collapse in the US dollar. It's due to a downturn in the economy mostly resulting from the Nazi-like enforcement of covid-19 mandates.
I could go on and on. All the loans in US dollars means US dollars need to be obtained to repay them ... creating a continual high demand for US dollars, as well as increased scarcity because not enough physical cash was actually printed to cover the interest.
VERY WELL put and I am saving your screed to show others...When I see articles like the one referenced, it makes me wonder what their agenda is...YOUR explanation is NOT ONLY INSIGHTFUL but also on the "money"...😎
I agree with much of what you say, however looking at our trade deficit alone and the fact that car parts are made abroad (using your example) it would take time to ramp up manuf. here to make up for the shortfall.
Also massive currency printing would most certainly cause hyperinflation. Currency velocity would skyrocket due to hording.
And normies would riot because their daily lives would be disrupted (i.e. waiting in line all day for rations).
With hyperinflation. Most businesses won’t be able to afford the imports to produce their product let alone afford to be anyone a living wage. Most medium to small businesses will shut their doors and lay off all their employees
Also, hyperinflation destroys the buying power of the currency; very few people will have "disposable" income and many will have NO income at all, so almost any retail business will suffer. Who's gonna go out to eat, or buy a new anything when prices are 50X higher than last month and income is stagnant or completely gone?
Exactly. This is my concern as we've never had disposable income with 6 kiddos, one income, but we are frugal, and have a mini farm/Homestead, and 80 acres hunting ground, and we have prepped to some degree. Hubby's work is finally picking up after almost total shutdown since late Nov.
Not to mention the Saudis, Russkies, Iraq, Algeria, Kuwait, Oman, all major oil producers have apparently announced they are slashing oil production from May-December. And the sock puppet in the whitehouse is unlikely to open up more land for drilling.
So expect Gas Prices to skyrocket which will probably thoroughly gut the handful that survive the economic shitstorm.
Well if it costs me $100 in fuel to drive to work per day (hyperinflation) but I'm only paid $100 for that days work, why would I keep doing it?
It would be impossible to find work that paid at the same rate as inflation, making all work performed and paid a net negative for the worker given cost of living increase.
It is literally not possible to be sooner than expected since a lot of us have been expecting this even since 2008!
I agree. Been waiting a long time for this. I do believe it's going to happen. But, this just sounds like the boy who cried wolf.
This is just fear mongering and doesn't even begin to approach the complexity of reality.
Did you know that some countries devalue their currency on purpose, so they're able to be more competitive in global trade?
Take John Doe. He makes 60k a year making autos. His monthly house payment is $800.
Tomorrow the US dollar is halved vs foreign currencies, what bad things happen?
Does John's house payment go up? No.
Does his job halve his salary? No.
Is his job security at risk? No. Why would it? Overnight, the cost of US made vehicles was halved. Sales abroad will probably increase 1000%. That'll make the demand for manual laborers in the US increase 1000%. That will increase Joe's salary, because workers for his type of position are now 10x in demand.
Not to mention that suddenly, China can't compete in the US (they can't afford to operate here receiving only half the income for products they used to get when the US dollar was higher). Who is suffering if the US dollar collapses? All the countries who dump their products here ...
Did I mention some countries devalue their currency on purpose?
I can tell you why the dollar crashing is bad -- for the cabal.
Trillions of dollars are loaned in US dollars. If, overnight, the value of dollars is halved -- then countries and foreign entities suddenly only owe half as much on their obligations.
It makes what the cabal can buy abroad twice as expensive.
But John Doe is ok, because he wasn't going to be buying a Caribbean island any time soon.
Reality check -- they've been saying the dollar is going to crash for at least 30 years since I've been paying attention.
I get paid in US dollars but the company I work for pays in foreign currency. My salary in the last 12 years has increased, and 44% of the increase is from nothing other than the increase in the strength of the dollar alone.
Anyone reading these boards knows that food scarcity isn't due to the US dollar. It's due to the cabal actively destroying food production.
Anyone reading these boards knows that riots aren't due to a collapse in the US dollar. They're due to Soros paying people to riot.
Anyone reading these boards knows unemployment isn't due to a collapse in the US dollar. It's due to a downturn in the economy mostly resulting from the Nazi-like enforcement of covid-19 mandates.
I could go on and on. All the loans in US dollars means US dollars need to be obtained to repay them ... creating a continual high demand for US dollars, as well as increased scarcity because not enough physical cash was actually printed to cover the interest.
VERY WELL put and I am saving your screed to show others...When I see articles like the one referenced, it makes me wonder what their agenda is...YOUR explanation is NOT ONLY INSIGHTFUL but also on the "money"...😎
I agree with much of what you say, however looking at our trade deficit alone and the fact that car parts are made abroad (using your example) it would take time to ramp up manuf. here to make up for the shortfall.
Also massive currency printing would most certainly cause hyperinflation. Currency velocity would skyrocket due to hording.
And normies would riot because their daily lives would be disrupted (i.e. waiting in line all day for rations).
My kids called, tons and tons of tic tok video characters saying digital currency CBDC starts tomorrow
AFAIK testing start this week. Live in July.
Well you could burn it for fuel during the winter. Ala Weimer Republic
Paper is better than nothing. Metal is better than paper.
Why high unemployment?
With hyperinflation. Most businesses won’t be able to afford the imports to produce their product let alone afford to be anyone a living wage. Most medium to small businesses will shut their doors and lay off all their employees
Also, hyperinflation destroys the buying power of the currency; very few people will have "disposable" income and many will have NO income at all, so almost any retail business will suffer. Who's gonna go out to eat, or buy a new anything when prices are 50X higher than last month and income is stagnant or completely gone?
Exactly. This is my concern as we've never had disposable income with 6 kiddos, one income, but we are frugal, and have a mini farm/Homestead, and 80 acres hunting ground, and we have prepped to some degree. Hubby's work is finally picking up after almost total shutdown since late Nov.
Not to mention the Saudis, Russkies, Iraq, Algeria, Kuwait, Oman, all major oil producers have apparently announced they are slashing oil production from May-December. And the sock puppet in the whitehouse is unlikely to open up more land for drilling.
So expect Gas Prices to skyrocket which will probably thoroughly gut the handful that survive the economic shitstorm.
Any thoughts on which job types would NOT suffer? For lockdown certain job types were considered essential. Is there an essential for this case?
Police. 🤠
Well if it costs me $100 in fuel to drive to work per day (hyperinflation) but I'm only paid $100 for that days work, why would I keep doing it?
It would be impossible to find work that paid at the same rate as inflation, making all work performed and paid a net negative for the worker given cost of living increase.
Expect bank runs? Have you not been paying attention?
Monthly Change in Bank Deposits since 1973 https://pbs.twimg.com/media/Fsv9OF-acAAYH2p.png
In other words, things will be looking up?
CBDC is their monetary control answer