posted on Mar, 7 2012 @ 12:25 AM
Originally posted by Corruptedstructure
So, let's say this happens. The dollar tanks. What would you pay let's say.. a mortgage with? Or would everything be at a standstill until whatever
emerges from the ashes if they pull this off? Or will the banks probably end up excepting precious metals in the meantime? Or maybe the dollar will
emerge as the world currency? Although, I don't think they will pull this off. I just always wondered how you would still pay for your home or
vehicle since those items can't inflate in price once the loan is signed.
If it happens I imagine that anything requiring any type of monetary system or monetary value would be frozen immediately. That means no one would be:
paid wages, access bank accounts, use credit, deposit, withdraw, buy, sell, or pay for anything.
Literally, everything would stop. Paying bills, rent, mortgages, anything would be useless. Therefore they wouldnt expect anyone to pay for anything,
which would automatically lead to no one working (because they wouldnt be paid anything), food and services (like water, electricity, etc) would
experience massive shortages. The masses would go nuts, and looting of stores would begin as people panic of no food reaching them. Crime rate would
skyrocket on the streets, as part of the survival instincts. The military would immediately swoop in to restore peace and calm. Their secondary tasks
would be to begin supplying rations to the public. Protesters and rioters would be removed into detention centers to send a clear message that it
will be useless to create chaos.
After people have calmed down, the new monetary system will set in. All loans, mortgages, salaries, prices, and debts would be readjusted and
revalued to the new systems parameters. Then slowly the insanity of the people will lift, then it will go back to normal (or as close as normal as
possible). After a few years there will probably be an world wide economic boom, in order to reinforce to the masses that "see this was a good
idea", which would be followed by another tech boom, then unemployment rates would plummet down to their lowest levels ever.
Then over the next 100 years the cycle would eventually repeat itself.