Ask the average American on the street “what is it that gives our money value?”
Likely you’ll get a host of answers of anything from Gold, Silver, Paper, our Land, etc. etc. A few are sure to honestly answer: “I have no idea!”
It seems that the average Man on the Street would be even less likely to understand that the value of the U.S. Dollar around the world, only has value because every country has, up until recently, said it did. And thus, they would use it as a basis (or The Reserve Currency) for all transactions throughout the world.
So what happens when countries begin to back away from the Dollar as the world’s Reserve Currency?
Bad things… that’s what.