In the spirit of the old joke, “just because you’re paranoid doesn’t mean they’re not all out to get you,” consider the possibility the US is heading toward an economic extinction event if three pending catastrophes happen simultaneously or in close succession.
Massive Government Bankruptcies
Uncle Sam is $20 trillion in debt and facing an unprecedented fiscal gap. Meanwhile, some states are flirting with financial catastrophe. Failure to head these off could be horrific, even if the dollar was a legitimate currency, not a fiat currency backed only by oil and declining US military might.
Demise of the Petrodollar
Every week, it seems, another development emerges in which significant global economic players turn their backs further on the dollar. Once the inevitable tipping point is reached, the massive amounts of greenbacks held overseas to buy oil will come home to roost. And when international investors abandon the dollar, who will Uncle Sam and the states turn to for financing?
Collapse of the Global Economic/Banking System
Since the end of the international gold standard, the world’s economies have floated on unbacked fiat currencies. And since the Great Recession, major central banks have engaged in unprecedented intervention in their respective money supplies. Eventually, these bubbles will burst.
Assume this perfect storm of disaster occurs. Can you imagine the kind of chaos and destruction that could result with a collapse of the production of economic goods, along with massive hyperinflation?
Add to that, long-simmering political, ethnic, intergenerational and inter-class tensions, and the resulting protests and riots would compel government officials to impose martial law and other draconian measures to control the population.
And what if the US is struck by a Yellowstone eruption, an asteroid impact, an EMP attack, or a global pandemic? Clearly, things could get unimaginably ugly in relatively short order. Are you prepared?
