It was worth 33 US cents at time of issue.
I just don't understand the "what" of this disaster.....
The dollar would be hard to use to buy anything forgien made. The Price of oil would make $4.00 gas look cheap. Prices on things would go up daily if not hourly.
This will give you a biit of an idea of what happens:
Argentina’s Economic Collapse
http://www.youtube.com/watch?v=rH6_i8zuffs
The simple answer is, “yes”.
The “what” in my opinion will be somewhere between the Weimar Republic and Mad Max. I lean more toward the Mad Max end of things - total breakdown of social order as we know it.
The simple answer is, “yes”.
The simple answer is, “yes”.
The simple answer is, “yes”.
>> “IF or When the dollar collapses, what exactly will happen?” <<
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Foreign merchants will either refuse dollars completely, or will demand such high prices in dollars as to make trade impossible.
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>> “will we not get paid?” <<
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Yes, the usual amount, but it won’t buy anything imported, and the price of what you can buy will be so high that you cannot afford it.
You really haven’t worked this thru?
With the collapse of the dollar, all governmental agencies would shutdown. Federal, state and local.
Cops, firefighters and teachers won’t be employed. That’s just the start
Following the lack of govt, banks and infrastructure will collapse. Any deals you had are null & void, as the country under whose laws the contract was written no longer exists.
Your property won’t exist... unless you can personally defend it.
Food? Good luck. How many farms are left?
Think dawn of the dead and you’re getting close to what it’ll be like in the major population centers
As long as the dollar remains the reserve currency of the world, your dollars will be good. I am of the opinion it will, but I'm a no expert...( but I did sleep in a Holiday Inn once ! )
What will happen is those dollars will be worth a whole lot less (reduced buying power) depending on counties who hold dollars do with them. Think worst case scenario (Zimbabwe) or inflation in the best case scenario in the 20 % + annual range
will the govt confiscate our bank accounts and 401's?.
confiscate 401 K is highly likely if 2012 doesn't remove the ursurper from office.
He will need the cash to pay off his pubic sector union thugs to get them to do his bidding
See Wiemar Republic
Oh Yeah and buy a large Wheelbarrow...
It was worth 33 US cents at time of issue.