Gotta question for you all: What will happen to the value of a dollar if it is removed as the currency with which to purchase oil around the world? What will happen when trillions of dollars are no longer traded? It will indeed fall in value. Perhaps even collapse on itself.
Now, let’s say that you are evil and wanted to destroy America by destroying its economy. Well, perhaps make the dollar collapse by getting it removed as the oil currency, right? What would be a good way to get it removed as the oil currency? To answer that, let’s talk about why it is the currency of choice around the world. It was selected because it was the most stable currency in the world. So, the best way to remove it as the oil currency, and thus destroy it completely, would be to make it less stable, right?
What would happen to the value of the dollar if Congress goes ahead with the outrageous idea of minting and new $1 Trillion coin? Would the world think we have utterly lost our minds? Would they think that Bernanke was a mad man? Especially since he is feverishly printing dollars like they are toilet paper even as you read this? Think about it, friends. Considering that both Iran and China have already called for the dollar’s removal due to Bernanke’s crazy printing of money (excuse me, I meant ‘quantitative easing’), I would think the creation of such a nonsensical coin might just tip the scale in their favor, no?
The collapse of a currency is directly related to the collapse of the country that owns it. They are one and the same, Currency=Country. IF the country fails, then we will need an emergency ‘bail out’, wouldn’t we? What might that look like? With everyone having lost their entire life savings, their retirements, their college funds, their trust funds, their pensions and their cash, there will be mass panic, right? And if someone comes up with a bright idea that will not only restore the original value of your money, but actually make you richer than you were before the collapse, will you jump at it? What if that meant getting a new currency-a digital one? One that is linked to MANY countries- just like the mighty euro? How about combining Canada’s strong dollar with the Mexican’s cheap labor, Brazil (cheap oil), Venezuela (cheap oil) and the United States’ massive know how? Wow. What couldn’t we do then? The perfect solution, right? Now we are stronger and better- we can beat the euro again! Beat the Chinese yuan again! The only price to pay? Not such a big deal- we were all sick of the stress anyway- the price is nothing more than.. *ahem* .. the way you define your country. It will be a new Union, the American Union! But it will only be a union of currency- not a governing body over you…… what was that? The EU? Oh, well, that was them and we are something new. Well, yes, they did end up governing over the various states that originally signed off. But we promise it will not happen to you… and just think… doesn’t this solve all your problems… think about your children… what will they inherit if you say no….you will be far richer than you could ever dream….yeah…. there you go, just sign riiiiight there…..