I was going to say that I’ve never seen anything like this; but that’s not quite true: the Soviet Union collapsed equally quickly, and equally unexpectedly.
Everyone is abandoning the USD at a rate of knots, and that is the difference with the collapse of the Soviet Union, the USD being the world’s reserve currency. If you live in a vassal state of the Empire any money you have in a bank might shortly become worthless (It’s actually been worthless for a long time now, because they keep printing money with nothing to back it up).
The crash for America is going to be much, much worse than that of the Soviets. Everything was maintained properly right up until the music stopped, and Russian equipment is rugged and dependable.
Now compare America. With decades of neglect and arguably more fragile equipment.
Have seen a variety of time frames ranging between a couple of weeks and two election cycles, all from credible sources.
Reality is finally catching up.
Edit (from elsewhere on the tubes)
Don’t worry. America will always be number one. Especially at declaring itself number one
LocalYokel, if you’re in the UK Pound zone it won’t be totally catastrophic (although you are still under the rule of banksters in the City of London).
Likewise in France, where they have never really let go of the franc (I used to love all them old franc notes). In fact France still derives a lot of its income from what’s known as the ‘African franc’. France still rules over 14 countries in central and western Africa, and all of these countries are forced to use the franc as currency, and these countries are forced to pay two thirds of their GDP to the Treasury in Paris.
Stand and deliver.
However, just recently many of these African countries have been overthrowing their French colonial masters. There’s a whole story there that I won’t get into here. Suffice to say that the African franc is now a dying duck. It’s almost as big a story as the death of the USD.
I’m aware that the French have been essentially controlling currency in their fiefdoms. Gonna be painful for avage French person but it’s been painful for Africa for decades. Needs to happen.
Am sorry to say Rob that I don’t share your optimism for blighty. First is we aren’t ditching our dollars. This is two pronged as not only do we lose the money, using US currency means you’re taking on a lot of their inflation (which is why Russia has almost no inflation). This is only going to get worse and we’re joined at the hip.
What resources does the UK have? What could possibly be in the new currency basket from Britain apart from big brass bands? We’re properly f’d because thanks to globalisation etc, they flogged everything. Machinery can be replaced, the knowledge though?
But Britain needs this pain and humiliation. And it’s needs a rather large portion too, to ensure all that “Envy of the world” bollocks withers and dies. This is mostly why I voted for Brexit. We need humbling, and to be fair we’d be going down the toilet inside the EU given the path they’re taking.
If I had the cash, I’d already be somewhere like Cambodia. I know someone who ended up there during covid. They lost their home and stuff in France, but they have a villa on the beach for £100 a week now.
Personally, am hoping to glimpse (or more) just how much the city owns wall street.
Hi Rob. I knew the colonialists never really let go of their ‘possessions’ but I didn’t know that France still earns from their former colonies. Are there sources somewhere that one can research more on how this works?
Evvy_dense the piece you posted does a good job of explaining the African franc. For those interested in this subject here’s a more up to date piece…
It should be noted that many of the protests in France over the last 4 years have included protesting the French government’s financial exploitation of Africa - this with the gilet jaunes, and the likes of Jean-Luc Melanchon.
With regard to the collapse of the USD, at the time of writing something like 23 countries have now abandoned the dollar (these countries represent more than 60% of global GDP), and even stalwarts like Britain and France are starting to use currencies other than the dollar, although they are not openly admitting it. The latest country to completely abandon the dollar is Brazil, which is one of the biggest economies in the world…
I have to say again that I’m not a financial person, and quite frankly find it all completely ludicrous (what a completely insane way to run the world!). Like all of us here I have money in the banking system (not a lot). I try to spread the risk by having some in UK banks and some in eurozone banks.
Alas, I’m not rich enough to have a Swiss bank account.
