The Most Significant Threat To America Nobody Talks About
And how to prepare for it
It’s not climate change. It’s not Covid. And no, it’s not the prospect of a civil war. Those threats still lurk and may yet hasten our demise. But other dangers persist that don’t make the headlines in the national news or Twitter-verse because they’re not salient.
It’s about the money, the almighty U.S. dollar in particular, and it affects anyone reliant on a 401K, a pension, Medicare, Medicaid, Social Security, and even SNAP.
First, let’s back up to the year 1252 in what we know today as Florence, Italy. The Republic of Florence struck the first Floren, a coin that many financial historians regard as the first modern currency. By the 14th century, Florence came to dominate trade in Western Europe, and the Florin became the world’s first reserve currency — a medium of payment used for international trade and commodity pricing. A country that controls the reserve currency enjoys preferential pricing and demand for its debt, allowing them to borrow almost unlimited amounts of money.
When Florence declined, Portugal briefly became a dominant power, followed by Spain. The Dutch Gilder in the 17th century became the de facto reserve currency due to their global trade domination. In the 18th century, however, they overextended…
