Some Common Cents for July 17th 2015

July 21, 2015, by John Norris

gThis week, I met with several people who are very concerned, extremely even, the worst case scenario is fast upon us. By that, I mean a global economy which doesn’t accept the US dollar, or any other intrinsically worthless paper currency, as a medium of exchange. Obviously, such a world would be unpleasant, at best. At worst, it would play out like a post-apocalyptic nightmare.

It doesn’t take too much imagination to go down that road. After all, none of the world’s major currencies, of even minor ones for that matter, are truly worth more than the paper and ink required to make them. So, at some point, people will wake up and demand something of value for their troubles, right? Relegating all this paper money to the dustbin of history in the process …Read On…