I believe so. It is also what allows us (Americans) to live well beyond our means through exporting our debt to other countries.
That stops if we are no longer the world's reserve currency.
The way I understand the situation is that our way of life will drastically change should this come to pass. Mortgages, car loans, personal credit cards - we are a debt based society.
Hopefully most on this site have been eradicating their debt as much as possible these past few years as part of their prepping.
Consider the shock and behavior shift it would take to move back to one where if you didn't have the money, you would do without until you did because the credit just is not available.
Let's be real, we aren't living beyond our means. We have one of the largest landmasses in the world, and it is replete with resources.
We would've been and should have been totally self sufficient, as American companies have basically made most innovations the world has seen and had we not allowed them to give them to China for cheap manufacturing, we would have had essentially a world monopoly on everything.
Which we could do again.
Bring jobs back to the U.S., cut frivolous spending on social bullshit and we would generally be fine.
The realtors? The insurance agents? The 'health care' workers (you know the ones in the reception that can barely speak)? The tattoo 'artists'? The lawyers? The MBAs?
Who?
The illegals?
The most important resource of a country is its human talent. This country has been blowing it away on shit paper pushing jobs for the last 80 years. And now we're in the terminal phase.
Romans could build aqueducts and had cities with > 1M inhabitants. Check what happened after the fall of the western roman empire in the west.
Hovels & mudhouses.
Loss of technical knowledge & skilled craftmanship is a real thing and it takes DECADES to get it back.
Correct me if I'm wrong but isn't that the only thing giving the dollar any value?
I believe so. It is also what allows us (Americans) to live well beyond our means through exporting our debt to other countries. That stops if we are no longer the world's reserve currency.
The way I understand the situation is that our way of life will drastically change should this come to pass. Mortgages, car loans, personal credit cards - we are a debt based society.
Hopefully most on this site have been eradicating their debt as much as possible these past few years as part of their prepping.
Consider the shock and behavior shift it would take to move back to one where if you didn't have the money, you would do without until you did because the credit just is not available.
Let's be real, we aren't living beyond our means. We have one of the largest landmasses in the world, and it is replete with resources.
We would've been and should have been totally self sufficient, as American companies have basically made most innovations the world has seen and had we not allowed them to give them to China for cheap manufacturing, we would have had essentially a world monopoly on everything.
Which we could do again.
Bring jobs back to the U.S., cut frivolous spending on social bullshit and we would generally be fine.
Drill baby, drill. And accept only gold or repatriated dollars.
Who will do the drilling?
The realtors? The insurance agents? The 'health care' workers (you know the ones in the reception that can barely speak)? The tattoo 'artists'? The lawyers? The MBAs?
Who?
The illegals?
The most important resource of a country is its human talent. This country has been blowing it away on shit paper pushing jobs for the last 80 years. And now we're in the terminal phase.
Romans could build aqueducts and had cities with > 1M inhabitants. Check what happened after the fall of the western roman empire in the west.
Hovels & mudhouses.
Loss of technical knowledge & skilled craftmanship is a real thing and it takes DECADES to get it back.