Very few in this country have any idea what happens once the Petro Dollar is removed from power. First, it means the cost for doing business abroad just became more expensive. We, like other countries, will have to exchange our money (buy it) for the new currency before the transaction is made. We haven’t had to do that in decades. Second, the added cost will initiate massive inflation. This includes items we require to survive. Lines will be long, goods will be in short supply, and tempers will flare. This would be a sight not seen since the Great Depression. Our culture has evolved a dependent class that may not survive. There would be no government bailout because, third, the cost of borrowing money would skyrocket. Did you think the “shutdown” of 2013 was annoying? With the collapse of the Petro Dollar, the government will go into a shutdown we’ve never seen. That means services limited to essentials and no entitlements.
People will riot as they struggle to survive. People will be hurt, and people will die. Society as we have known it, the relative comfort we’ve enjoyed will be gone. Government will change, as well. It will either become authoritarian to retain some control, or it will be transformed into a more efficient system. Everybody will have to learn to live with less.
The irresponsible actions of our government, their reckless spending habits and unwillingness to address insurmountable debt, their arrogant disregard of other nations’ sovereignty as they attempt to rebuild nations in their image, as they continually send drones across borders without permission or declarations of war, has brought this country to the brink of financial collapse. Unless these actions are immediately reversed, there can be no other outcome than the collapse of the Petro Dollar.
Fiscal responsibility has to be the first step. Spending must be curtailed; entitlement programs must be reworked or even eliminated; waste must be found and stopped; and the economy must be free to grow. The United States is a nation blessed with great resources and a very diligent work ethic. The taxes and regulations that strangle our businesses must be lifted. The dynamo that is the American economy would waste no time returning to its former glory.
Next we must cease meddling in affairs that pose no threat to our security. President Washington warned us against this over two hundred years ago. We currently use the threat of terrorism to justify our actions, but the world grows weary of our deeds as does a growing percentage of our population. This will be no small feat as the power of the international bankers and the military industrial complex is almost absolute. Plus, we have a government that is courted handsomely by both courts and are apparently unwilling to take corrective actions.
Under the current fiat system we and other countries operate, there will be no positive outcome. As world debt increases, more and more nations will falter. One could foresee entire countries being foreclosed and occupied by forces loyal to bankers like the IMF. The only chance would be to break away from this system and those that run it. This would require the United States becoming partially isolated from the world. As a matter of history, our people have been isolationists only becoming involved when threatened. Militarily we are beginning to see such an attitude emerge again. If most knew about the severity of our economic malaise and its close ties with gargantuan bankers and power brokers, the public would want further isolationism.
We are one of a few nations that could actually be self-sufficient. In the end, it may come down to that very notion