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Karlsweldt wrote:Doubtful it will happen. There are contingency plans in place to prevent that.
Not only the United States, going bankrupt, but the entire economy of the world would be at stake! The American Dollar is a base of most economic standards.. and loss of that standard would create worse than a pandemic!
The Federal Reserve (which backs all American currency) has huge reserves of "hard" money.. gold, platinum and silver.. which ensures the value of paper and coin currency.
The true problem is the liberal spending of taxpayer dollars on worthless "pork barrel" projects that benefit a few, costing the majority dearly. Stop the frivolous, wanton spending bills, and see how fast the economy rebounds!!!
The 'Great Depression' time was before my being.. but there are still many seniors that lived through it. Violence was not a great problem, as poverty was wide-spread.. and there was really nothing to "acquire" from theft and violence. Those few citizens that did have secure finances did provide sustenance to the masses.. and were regarded as "saintly".
fussnfeathers wrote:Actually, Karl, the value of all currency is based on the value of the Yen. If/when that crashes, so does most of the free world.
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