>>60588240
During the Weimar hyperinflation, people were using gold backed dollars to buy houses for 1 ounce of gold. They did this because the tenants could not keep up with the cost of inflation and the depreciation of the buildings was impossible to maintain. If we can't secure cheap imports because the BRICS no longer want Treasuries then things can deteriorate quite rapidly. Think of all of the poor people who live lives on the margin made possible ONLY by cheap imports for necessities. Suddenly the make-shift service jobs are no longer enough to keep people afloat. It can all unwind very easily and as I have been saying this whole time, that unwinding is the credit fueled financial system. Why go to all of the trouble to manufacture goods for dollars when Uncle Sam is so broke he has to print 100% of his tax receipts just to balance the budget.
Makes no sense at all and the whole world sees this little problem. It is momentum alone that propels things forward and if you pay attention everyone seems to be making moves to back away from the dollar, not get more entangled with it.