Are People Smart Enough to Reject A New Fiat Currency?

As I’ve been perusing through the preparedness, survival and information blogs over the past few weeks, I’ve come across a recent theme that suggests that when the US Dollar crashes and the FedGov tries to implement a new fiat currency, the American people will be too smart and reject it. That they will, instead, call for a gold or silver backed currency.

Really? Is that what’s going to happen? I’m not so sure.

In today’s USA Today poll, when asked how they plan to save money in 2010, 23% of the respondents stated that they hope to win the lottery. That’s it? That’s their plan to save money; hoping to win a contest with incredibly bad odds? Now the total of all responses was greater than 100%, so people responded more than once, but I think it still gives us a look into what people are thinking.

If, as a people, we were going to reject any economic instrument that would shackle us as inflation-slaves, we would have already done so by calling for an end to the Federal Reserve and a resounding NO! to the bailouts. It’s not happening.

To be sure, there are many people that want to see this happen, but not nearly enough that it will have any effect. It will be the same with the new US dollar, if there is one. There just won’t be enough people who know enough to care or make a difference.

Along these lines, I see too many people making plans for the EOTW scenario and not spending enough time planning for the MLTH (most likely to happen). Your preparedness plan should include ETOW scenarios, just in case they happen, but you should be mainly focusing on those things that are most likely to affect you and your family on a daily basis.

For example, the first things to accomplish in your preparedness plan is to make sure you have the proper insurance (car, health, home, fire, flood, life, etc.).

Rob

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