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Richland Center, Wi |
The question that will come if the dollar is no longer the world's reserve currency is, "Who is going to buy the debt instruments issued by US Treasury?".
How high will the interest rates go on US treasuries and bonds to encourage purchases of these financial instruments? What does that do to people who have borrowed money that did not fix their interest rates? What does a higher rate of interest (foisted upon the US by the marketplace) do to the US economy?
If no one is willing to buy US Treasuries/bonds at current levels of interest, does that mean that our elected representatives in Washington D.C. will actually be forced to balance the federal budget?
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Is anyone seeing the pattern here?
