What will happen to the outlook of the dollar in the future? Did you know that, currently, the United States of America is the only country that doesn’t pay to convert money to import or export goods? This is because the things we buy are valued in U.S. dollars. Not hearing me? Example: Say China wants to buy oil from Saudi Arabia. China has to convert its currency into U.S. Dollars to make the transaction. The same goes for any other currency in the world. To import and export goods, the currency needs to be converted into dollars. China currently holds the most U.S. dollars in the world!
The dollar is the current world reserve currency. What would happen if other countries decided that the dollar no longer holds the value as it did 15, 20, 50 years ago? This could change the lifestyle of Americans as we know it. You think our gas prices are high now? Wait until the United States has to convert our U.S dollar into whatever currency takes over as being held the up most of value.
Everything we do, eat, enjoy will change. Our prices for food will go up. Toys, clothing, cotton, EVERYTHING! Just think about it. If the gas prices go up then the cost to ship said items will go up causing the price of the goods to go up.
Gold is at an all-time high. Silver not to far behind. Soon, Americans will be buying gold and silver. I would go with silver, as history sometimes repeats itself. Silver was the coin, currency of choice.
Some Americans refuse to see this. Stating that the U.S. dollar will never lose its value. I beg to differ. There are already banks in other countries that will not allow U.S. funds to be deposited into accounts. There are places in Mexico that state “no dollars” as a form of payment.
I would hate to see the U.S. Dollar fall. However, it seems to be inevitable. Sure, the government could print more. What good is that going to do for Americans if no one wants it as payment?