I'm probably going to get a yard stick of red, but I thought this was a reasonably well thought out and entertaining end of dollars scenario... Here's to hoping it doesn't happen.
Gold would be like $30k/oz if that situation really occurred.
From a reality perspective, I doubt it would come to the situation as written in that story. Personally I think in the worst case scenario the US would figure it out before it gets to that situation, and they would probably ease the situation somehow by going to a partial gold standard, in which case gold can easily go upwards to $10k+/oz.
LOL! I just noticed it's by "John Galt". Where was this originally published? Atlas magazine?
xerty
Senior Member - 2K
posted: Jan. 1, 2010 @ 1:44a
greling said: LOL! I just noticed it's by "John Galt". Shrug.
magika
Senior Member - 1K
posted: Jan. 1, 2010 @ 1:57a
Ah some nice doom and gloom pessimism porn. Things have been far to positive on FWF lately, we need a good dose of financial apocalypse porn. And to make it especially pleasant, its a gold bug's dream piece too. Everything a permabear could ever want:
- Hysterical people buying canned food, general panic from the public. - Dollar crashes, but every other fiat currency is just fine! - Gold, of course, just keeps going up and up! - Other assorted things that are fun in the much hoped for American apocalypse: martial law, wars, etc.
The sad reality is a lot of people want this to happen, even a few on FWF. They want to feel vindicated - they bought gold bars en masse, they've stocked up for the financial apocalypse in their nuclear bunker, and it didn't occur last year as planned. This just details someone's specific hope/need/fantasy for the financial apocalypse. Its just a fictional story, but if you read the comments in the blog post its very clear some people are desperately hoping for this kind of thing to happen.
(PS: Yes, I know any doomers who read this will red me for it.)
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