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June 4, 2024
When America Suffers Economic Collapse The U.S. Government Will Not Be There To Help You - We Could Lose Food, Gas, Electricity And Water, And Preppers Will Be The Ones To Rebuild The Nation
A fascinating discussion on ANP with readers resulted in a request for an article on the topic of economic collapse and exactly what would happen if a nation such as the U.S. suffered a banking collapse, and/or a complete economic collapse.
First and foremost it is worth noting that the U.S. is tens of trillions in debt, and the only reason we haven't suffered a complete financial collapse is because the U.S. dollar is the world's reserve currency. This means the Dollar is the most commonly held reserve currency, and most widely used for international trade.
That status is not guaranteed, as we see when looking at the reserve currency historical record.
Spain's currency lasted the longest at 110 years, while the British pound lasted 105 years, the only two currencies to be used predominantly in commerce to last more than 100 years. The average, adding all but the Dollar and dividing by the previous five currencies, is 94 years.
The Dollar passed 100 years in 2021.
Further jeopardizing the Dollars status as the world's reserve currency is the growth of the BRICS,
BRICS is the acronym for the countries in the group: Brazil, Russia, India, China and South Africa.
It was coined in 2001 by an economist to describe the fastest-growing states, which are predicted to collectively dominate the global economy by 2050.
According to the article linked above, as of August 2023, "more than 40 countries have expressed interest in joining BRICS, and China is keen to add members to gain geopolitical influence during ongoing economic and security tensions with the US. "
The whole point of the above introduction is that the Dollar, as the world's reserve currency, is on borrowed time, and many BRICS countries are already dumping the U.S. dollar and preparing to unveil their own native currency.
In February 2024, U.S. News & World Report published a piece which explains what happens when Dollar loses its reserve currency status. They described it in the following manner: "That said, if the dollar gradually loses its place atop the world financial pyramid, what would happen next? For the U.S., it would likely mean less access to capital, higher borrowing costs and lower stock market values, among other effects. Having the world's reserve currency has allowed the U.S. to run large deficits in terms of both international trade and government spending. If foreigners no longer want to hold dollars for savings, it would force significant belt-tightening at home."
It is not clear how much more "belt-tightening" Americans can handle when anywhere from 65% to 78% (depending what source we look at), are already living paycheck to paycheck, especially with food costs up more than 20% since 2021 when Joe Biden took over the White House.
Below we delve into the discussion that kicked off this article at the suggestion of a reader.
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Other countries, not socialist ones, fared better and worse, but there is no guaranteed outcome when a nation suffers a complete economic collapse. A likely outcome was explained in 2022, by The Balance Money website, shown below.
If the U.S. economy were to collapse, you would likely lose access to credit. Banks would close. Demand would outstrip supply of food, gas, and other necessities. If the collapse affected local governments and utilities, then water and electricity might no longer be available.
That same article makes the claim that "A true economic collapse won't happen, because measures would be taken by the U.S. government," yet that is dependent on who is president.
For example, the Biden regime has already drained much of our Strategic Petroleum Reserve, leaving is at the lowest levels in decades, and that is meant to be tapped during national emergencies, in order to artificially manipulate lower high gas prices.
So no, we cannot depend on the U.S. government to take the "measures" necessary to prevent a "true economic collapse."
The most likely scenario in the event of an economic collapse in the U.S., would be that fiscally responsible states would fare better than states running large deficits, but preppers will survive far longer than those thinking the "government will be there to help."
It is important to remember that even if Biden if voted out in November 2024, no matter who takes his place, Donald Trump or another Republican, undoing the damage that "Bidenomics" has done to America, our petroleum reserves, the extremely high cost of food and energy, electric and gas, could take years to undo, if at all.
In the discussions this morning, we see that some are paying utilities in advance, in the hopes that should there be a banking collapse, or an economic collapse, they won't lose their utilities.
Far be it for me to say if that is a good or bad idea, some states may just keep electricity and water running, or at least keep it longer than others, but I will say that having a backup plan is always a good idea.
Same goes for food, growing your own, learning to can foods, dehydrate or freeze dry, along with freeze dried survival foods that last for 20 years or more, (links for survival foods can be found at the very bottom of my piece from yesterday at this link).
BOTTOM LINE.....
When America suffers a complete economic collapse, those depending on the government to be there to help them survive, will die.
Preppers will be the ones to rebuild this nation.
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