My nightmare about the future . . .
We are going to see a currency collapse. The President (Obama or his successor) will have to declare a bank holiday of about two weeks.
The President will take charge of all resources of the American people in the name of this bankruptcy of the entire nation. (Executive orders are all ready in place to do this.)
He will dole out those resources based on political favorability. Eventually he will be forced to issue ration books to everyone and dole it out equally to everyone so no one starves.
I expect riots. So does he. The military will be called in and an emergency declared. Martial Law will be declared for the entire country.
Prisons have already been built to hold the rioters. Just no one is certain how widespread it will be. If it is too widespread you will see tanks and guns on the streets to restrain the rioting public. All stores will be closed until further notice until this is a military government making all the rules.
All debts under the President’s dictatorship will be forgiven. Everyone will be starting over. Thus the student loans will be forgiven like everything else. The big losers here will be the money lenders as they will not be able to collect anything from anyone.
All money will be turned in to the government. The new money will be a credit card issued to everyone. Instead of money, you will present the credit card at the stores. Money as we know it in wallets and purses will be illegal in the future. I don’t know what is going to be done with savings accounts.
Gold, Silver, platinum, and jewelry will be confiscated by the US government and credit will be given in its place. I suspect any money in the bank will be confiscated.
I look to see the biggest and best theft of wealth this country has ever seen in the name of Martial Law and emergency powers of government.
This is not the only place that this will be tried. I suggest all of Europe will see it happen overnight.
This leaves countries like Panama, Argentina, Brazil, and others on a short stick. But they will be free for the time being because the governments will be busy eating up what they have taken. Besides it is easier to export the trouble makers somewhere than to kill them.
The new dollar will be a credit currency. It will have no substantial backing except the worldly goods of the countries involved. In the past Korea had a currency crisis like this in the 60s. The equivalent of a dollar became a dime in the new currency exchange. The dime became a penny. The penny was worthless paper. I feel that something along that line will happen here. Only it will be on paper in the computers at the banks, not in anyone’s pockets. That is why the issue of a credit type card is where I think they will go with this.
Welcome to my worst nightmare. The facts out there are available to anyone that wants to look. Jessy Helms, The American Dream, Lew Rockwell authors, It is there if you want to see it.
I guess the only real unknown is “when” . . . I think the first sign will be a general collapse of the stock market back to around 5,000 from 13,000. That is when the bank holiday will have to occur.
Let us hope that I am completely wrong and some other solution happens instead.