Ok guys, I have a couple of questions about what will happen if we actually DID convert to another currency. Would the dollar then be worthless, or
simplly be worth whatever it was still worth by then?
Second, what happens to everyone's retirement and savings if we convert to the Amero or something like that? Would it all simply be gone? What about
all the money we paid into Social Security? THis can get really complicated really fast, and I see a lot of really hard times for a lot of people if
we were to actually abandon the dollar.
Thank you in advance for any answers forthcoming.
Coop
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First the dollar would probably be pegged to the new currency, then all prices would be displayed in the new currency and no new dollars would be
printed or minted. All government payments would be made in the new currency, and all the dollar bills would be removed from circulation through the
banking system. The dollar would still exist as a currency for a number of years, like german Deutch-marks still exist, because bonds, loans and other
obligations have been issued in dollars, but these obligations will be repaid in the new currency and new obligations will be in the new currency.
Of course, businesses would use the confusion to increase their prices as well, because they know that people aren't walking calculators.
Pretty much like in the EU.
Nothing will happen to the existing savings etc. it'll just be like exchanging money when you are on vacation. If you get 2 Ameros for each Dollar,
your 100000 Dollar saving just turns into 200000 Ameros in savings, although the Amero is propably pegged to the Dollar at 50 cents per Amero.
[edit on 3-1-2008 by aaa2500]
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Why is this in Aliens & UFOs? Are aliens going to enforce a currency change on us all?
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