Send a text

What if...?

If the U.S. Treasury stopped issuing money, and the Federal Reserve stopped providing liquidity to the banks, and the flow of money was stopped, and the markets ceased trading, and no backup or alternate monetary system was deployed, businesses and consumers would no longer be able to transact value exchange, or pay bills, or pay for utilities, or food...but that day-to-day exchange could be replaced in-part by barter or local agreements to carry-on vital business peer-to-peer...but there would be no money, nor way to pay debts back to the bankers - unsecured debt would evaporate, but what would happen to asset-backed debt? Would the assets - land, homes, vehicles, inventories, etc. suddenly become the property of the bank? Would massive foreclosures on a nationwide scale force people into the streets? How would the banks liquidate assets into a money-less economy? Who would own the assets after foreclosure? The bank? The bank's shareholders? The local government? Federal agency? What comes next? How would the populace recover from this crisis? Would communism (perfect communism, not the evil communism associated with modern culture) be implemented as a means to ensure survival for all while the machines of progress are rebuilt and re-deployed? How likely is this to happen given the state of the union and the economic fragilities of late?

Support the show