Bowspearer wrote:Burn wrote:Good thing I have no savings then.
You're going to wish you had when this invariably hits - and there's evidence of both sides being complicit in it in Australian politics. I don't think you quite grasp the reality of something like this happening. It's not just a case of people having their savings stolen; essential services grind to a halt and people aren't paid wages. These days, every person, every organisation, every business, all have bank accounts. When this hits - and given the high level international push for this to be implemented transnationally, it is very much a "when" rather than an "if" - expect to not be paid wages because your employer's funds that they would have paid you with will have been frozen.
No, if what you say is going to happen and the system crashes completely no amount of savings is going to help you, which is why investing in gold is also pretty worthless.
If the system truly does go down the drain on a global scale the way you're saying, this is what's going to happen:
See the things the children are playing with? And the stuff that's being weighed as paper waste to determine its value as paper? That's money.
If what you say does happen, the entire world will live in post World War 1 Germany. And guess who got out on top after that? It was those who owed money for property, or had loads of property in the first place to basically live off of it till the economy got back on track a while later.
And after that WW2 happened and when that ended Germany as well as most places in Europe, was in a similar situation again. Know what happened then? Europe uniting to what is now known as the EU, and that was all keep together by the USA implementing the marshal plan which gave the European nations an incentive to work together, oh yea and the fear of Communism.
If all goes tits up on a global scale, that's what we all are going to be able to look forward to, our current currencies are garbage and the system is rebooted, likely by a new superpower ceasing the chance of expanding itself and its influence and we'll have to start all over again. This time however it will likely be China instead of the USA.
But again, it's likely not going to happen, we live in a globalized world and the countries at the top have a huge interest in it not happening, the only ones who look forward to this happening are religious nut jobs who are horny for Armageddon to finally happen.
If worst comes to worst and the US does go tits up, China will likely do in the USA what the USA did during and after WW2, after all, the USA is one of China's most important business partners and it#s pretty bad for business if you let your most important customer die.