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I think if you knew how much pain and suffering it would cause, you would not say that. Although I am not good at economice or finances, as I understand it, the whole global economy is based on the dollar as a standard, and so many countries have invested in that currency that globally no-one would be safe from the effects of such a crash.
We all know it's going to crash, let's just get it over with already.
qmantoo
reply to post by Krazysh0t
I think if you knew how much pain and suffering it would cause, you would not say that. Although I am not good at economice or finances, as I understand it, the whole global economy is based on the dollar as a standard, and so many countries have invested in that currency that globally no-one would be safe from the effects of such a crash.
We all know it's going to crash, let's just get it over with already.
It is not just a huge earthquake or volcano eruption which would cause chaos everywhere, but a financial collapse can easily cause this kind of thing too but on an economic level. It would effect everyone, even down to buying stuff in the supermarket or the corner store, as well as any pensions, credits, or money-in-the-bank. If you suddenly knew your 100 dollars in the bank was now worth 10 dollars or 1 dollar, wouldn't you want to get it out as quickly as possible in case you needed what little was left? People in debt at the bank would have no 'liquid' cash money at all.
Think you would go back to bartering again? Realistically, what in your home is worth anything when there is no-one working or being paid? Maybe a hammer or a tool of some kind, gold or solver bracelets perhaps? Skills are useful, vegetables can be eaten.
Since no company, even the government, has any assets worth speaking about now in this scenario, no money is available to pay anyone to work. How do you pay someone 100 dollars when the value of a dollar has just fallen to virtually nothing?
Essential services would stop as they need people to service and manage them. Water, gas, electricity, hydro-electric generating dams, nuclear power plants, chemical plants, weapon storage facilities would all stop and decay. Some things cannot be left un-attended without disastrous consequences, such as nuclear power plants.
No, I dont think we realise how much it would affect our daily lives.