Russian President Dimitry Medvedev Releases 2023 Predictions: Oil will Reach $150 per Barrell and US Dollar will Lose Its Status as Global Reserve Currency
https://www.thegatewaypundit.com/20...lar-will-lose-status-global-reserve-currency/
If you understand what he is saying, if these two things happen the US economy will crash. Without our reserve currency status the US dollar will drop 50% in value which is what he is saying by oil going to $150. However, with the dollar dropping 50% in value inflation will be at 100% meanwhile we won't be able to sell our debt to any other countries. But not only us, everyone who uses the US dollar as the reserve currency will be in the same boat. Imagine how many people will not be able to afford gas or electricity or heating oil if the price doubles. So in addition to runaway inflation you will have massive layoffs in the west. Not just the US but Europe, Australia, Japan, Taiwan, etc.
Now consider this, your paycheck has just been cut in half. No doubt for 5% maybe even 10% they would not be immediately bankrupt, but for the other 90% of the country they would immediately be bankrupt. Already people are using credit cards to get by. Their credit would immediately be cut off. Cars will be repossessed, everyone will stop eating at restaurants and you will see massive bankruptcies of small businesses.
If you think homelessness and looting is bad now, just wait till this happens.
Now consider this, police, fire, teachers nationwide would be broke. Cut the dollar in half and they will be broke. We aren't talking about felons, or welfare recipients, or people on social security. We are talking about the middle class not being able to afford to heat their house or pay their car payment or even fill the tank with gas.
https://www.thegatewaypundit.com/20...lar-will-lose-status-global-reserve-currency/
If you understand what he is saying, if these two things happen the US economy will crash. Without our reserve currency status the US dollar will drop 50% in value which is what he is saying by oil going to $150. However, with the dollar dropping 50% in value inflation will be at 100% meanwhile we won't be able to sell our debt to any other countries. But not only us, everyone who uses the US dollar as the reserve currency will be in the same boat. Imagine how many people will not be able to afford gas or electricity or heating oil if the price doubles. So in addition to runaway inflation you will have massive layoffs in the west. Not just the US but Europe, Australia, Japan, Taiwan, etc.
Now consider this, your paycheck has just been cut in half. No doubt for 5% maybe even 10% they would not be immediately bankrupt, but for the other 90% of the country they would immediately be bankrupt. Already people are using credit cards to get by. Their credit would immediately be cut off. Cars will be repossessed, everyone will stop eating at restaurants and you will see massive bankruptcies of small businesses.
If you think homelessness and looting is bad now, just wait till this happens.
Now consider this, police, fire, teachers nationwide would be broke. Cut the dollar in half and they will be broke. We aren't talking about felons, or welfare recipients, or people on social security. We are talking about the middle class not being able to afford to heat their house or pay their car payment or even fill the tank with gas.
