It’s interesting to note that in Venezuela where the currency collapse is already in a later stage than that of many of the developed paper currencies, reports of the people going back to a barter economy continue to surface.
Similar to what happened in this fascinating Greek Village (that I actually had the blessing of visiting in person back in 2014), where once again it was evident that even when the paper currencies collapse, what’s valued is our true natural abilities and contributions.
I continue to remain fascinated to see how all of the events ultimately unfold. And I agree with Brandon Smith, that whether it’s ultimately used or not, China does have knockout punch to which the U.S. cannot respond.
TAP – Will China just dump its holdings of US Treasuries to help the world get back to an even keel? Everyone will have to realise that the trillions of assets they once thought they held are simply worthless. It’s better to take it on board and move on than sit in hopelessness forever.
Chris Marcus is a former Wall Street options trader turned Austrian Economist and writer.