The following video offers a “worst case scenario” that may follow a collapse of the U.S. dollar. Although I agree with virtually everything the author says–as a possible result of a dollar collapse–I have three quibbles with the video presentation:
1) While it seems inevitable that the fiat (paper/digital) US dollar must collapse, it’s nevertheless true that the dollar is the “world’s reserve currency” and there’s no other national, fiat currency available to take its place. Insofar as there may be no other national, fiat currency to replace the dollar, gold and silver are virtually certain to once again become the “world’s reserve currency”.
However, the forces favoring “global free trade” and “one world government” will perish unless they can maintain a fiat (paper/digital) “global reserve currency”. The globalist’s power depends on their ability to “spin” fiat currency “out of thin air” and use it to “buy” the world. The globalists can’t “spin” gold or silver out of thin air, so they despise gold and silver. Therefore, there are enormous international powers at work that are dedicated to insuring the survival of fiat currencies in general and the fiat dollar, in particular.
However, recognizing that all fiat currencies are failing and therefore a return to gold/silver as money is inevitable, the globalists may admit that “half a loaf is better than none” and devise a currency that is only partially backed by gold or silver but still predominantly fiat. If so, the fiat dollar could be (mostly) saved as the “world’s reserve currency” if it were backed, at least in part (say, 25%?), by gold.
The pure fiat dollar is a “gonner”. But a partially gold-backed, predominantly fiat “dollar” might yet survive. Insofar as a new-and-improved dollar was predominantly fiat, it might still be possible for globalists to “spin” dollars “out of thin air” and continue to thereby “buy” the world. Thus, contrary to the video’s claim, it’s not absolutely inevitable that the fiat dollar will completely collapse.
2) Contrary to the author’s implications in the video, it’s not necessarily true that a dollar collapse will cause a “worst case scenario”. Such collapse will cause extraordinary pain, but the results might be somewhat mitigated. We might wind up in a “Greater Depression” that was painful, but mostly survivable. The “worst case” is possible, and perhaps even likely, but not absolutely inevitable.
3) The author speaks of five places to avoid in the event of a dollar collapse: Israel, England, Southern California, New York City and Washington DC. In naming just five “worst case” places, the author implies that other places (like Chicago, Dallas or Atlanta) may “do OK” in the event of a dollar collapse. I disagree. I can’t imagine that any “big city” in the USA or even much of the world, will be at all “safe” in the event of a dollar collapse. As most of you know, there’s only three days supply of food in the average city. If the system suffers a catastrophic failure, there’ll be hundreds of thousands of starving people scavenging for food within one week. The resulting violence would be widespread and horrific in most of the major cities of the USA and even the world. In other words, the actual worst case scenario may be more extensive and even much worse than the following video suggests.
But, again, these are quibbles. I agree with virtually everything claimed in the following video.
The only remaining question is When?