Bouncing ideas
After reading gjohnsit's post last night regarding the decline of the dollar hegemony, I started again to try to visualize what's to happen to the dollars I have in the bank, in the market, or 401k? For that matter, what about the cash I have stashed under the proverbial mattress? Will the actual greenback turn into something like the Zimbabwean dollar?
As gjohnsit has shown, everything TPTB have done has backfired spectacularly and the dollar is being loathed like monkeypox worldwide. But these are digital dollars. Same as the money we keep in our checking accounts.
What about cash?
Even in a depression, people will still work and earn some kind of recompense. Will it be seriously deflated Greenbacks? Or digital dollars in a bank? Will banks still exist?
It's hard to imagine returning to a barter system, so we must have some kind of currency. Perhaps gold rings will be used as a measure of value. Or a silver spoon for a bag of rice.
But the rice farmer must have a use for that silver spoon. For seed maybe. Or to pay a vet bill.
I can safely assume that if TPTB planned this crash, it will probably backfire on them spectacularly.
Will the actual Greenback become even more valuable?
Just bouncing ideas around.
The thread is open.
Comments
There is a difference between
There is a difference between dollar dominance and its use. I think dollars will continue to be used within the US for a while.
I can't guess what might replace it in the US. Perhaps gold and silver or some sort of currency backed by them.
Good morning Granma - good to see ya.
Agree, except I don't see a return to hard currency.
be well and have a good one
That, in its essence, is fascism--ownership of government by an individual, by a group, or by any other controlling private power. -- Franklin D. Roosevelt --
Morning Granma
I tend to think you are right, although greatly inflated.
Could be a gallon of gas would cost you $40 in Greenbacks but a car would be paid for in silver jewelry or bullion.
A condo would be dealt with in gold.
Dunno, anything could happen.
Neither Russia nor China is our enemy.
Neither Iran nor Venezuela are threatening America.
Cuba is a dead horse, stop beating it.
Good morning earthling1. Thanks for the OT
I think Granma is right, the dollar will continue to be at least an internal currency, and might also still be used in foreign trade, but won't be a reserve currency, something like the cold war Ruble, one value internally and another externally. It could even come to be some sort of basket of other currencies but still retain the name "Dollar".
I also think that banks will still be around, let's face it, the money lenders now are the temple, they won't give up a good thing. What the hell would all the bankers do for a living?
be well and have a good one
That, in its essence, is fascism--ownership of government by an individual, by a group, or by any other controlling private power. -- Franklin D. Roosevelt --
The Moneylenders
may wind up on pikes.
They used to tar and feather them and run them out of town on a rail (wood).
T & F sounds good to me, but they need to go alot further than out of town.
Thanks for stopping by.
Neither Russia nor China is our enemy.
Neither Iran nor Venezuela are threatening America.
Cuba is a dead horse, stop beating it.
Don't think that even the Irish still have pikes. n/t
That, in its essence, is fascism--ownership of government by an individual, by a group, or by any other controlling private power. -- Franklin D. Roosevelt --