What would happen if the Dollar Collapsed? ?
We are in uncertain times and I wanted to know what would happen if the US dollar suddenly became worthless? We are 25 trillion in debt and they keep printing trillions out without paying it back. If the dollar collapsed, how would we pay for groceries? Pay our mortgages and electric bills? What would happen to those without jobs and disabled on Social Security? Would we become a nation in anarchy? Would the power grid go out and everyone is left to their own devices? Would martial law be declared?
Oh, and please don’t say “the dollar can’t collapse” or “the dollar will never collapse because...” I just want to know what would happen in that scenario not why it won’t happen thanks.
If people were being paid worthless dollars would they still go to work volunteerly?
- DzeLv 73 months agoFavorite Answer
look at places like argentina and venezuela .. first inflation starts to skyrocket, then people run on banks, then clean the stores out, then theres riots, then theres not much of anything to go around .. its hard to say exactly what would happen though .. people in more rural areas could probably make things work .. people in large urban areas would be up shts creek and likely have to be controlled by the military ...
- JocelyneLv 53 months ago
Governments will have to implement a Universal income so everyone will have the funds to buy food and pay for rent. Everyone and all nations can declare bankruptcy and we can all start over.
No one loses their houses or apartments and those who don't have homes will get one. Essential service jobs will continue, as will food production etc.
Those who don't have work will pay back in social services and take educational courses on the sciences so they can understand the world as well as how to get along with others.
It wouldn't be easy and would take some time to implement, but I think it would be the best for the majority.
- OiyLv 63 months ago
It won't affect you and your groceries. The loss of value will affect creditors such as China and Japan. But they will demand our gold reserves. Are you prepared to see it moving to China? But we still have many cows and pigs to gain it back.