Won’t they just replace one fiat currency with another? What’s to stop the 0bamas Geithners Bernankes and others from doing that?
>> “Won’t they just replace one fiat currency with another?” <<
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That has only been done once before, with the Euro, and it was not broadly accepted at first. Now that the Euro is in a nose dive, it is unlikely that anyone would willingly accept a new fiat currency.
It will mean asymptotically increased crime and violence, as evidenced by the rioting in Greece. My guess is that the productive portion of the population will demand hard money or commodities as exchange for labor or goods, and refusing to accept any paper instrument of any kind.