Quote:
Originally Posted by antipop
They didn't end because of the national debt or a financial crisis.
The government is not a household and shouldn't manage its budget like one.
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Actually, it was exactly what happened. History does have a tendency of repeating itself, just seems different...
"With soaring logistical and admin costs and no precious metals left to plunder from enemies, the Romans levied more and
more taxes against the people to sustain the Empire. Hyperinflation, soaring taxes, and worthless money created a trifecta that dissolved much of Rome's trade. The economy was paralyzed."
History is full of sudden currency collapses. Argentina, Hungary, Ukraine, Iceland, Venezuela, Zimbabwe, Germany. A collapse of the dollar is an unlikely scenario...
Since the days of Bretton Wood agreement, our (US) government relies on the power of the military and NATO to make sure the dollar stays the world reserve currency and anyone that opposes that will have to try and take that away. It's really that simple.
It is not the only reserve currency but by far the dominant one.
There were examples when some bold leaders that got the bright idea of doing things differently and it didn't end well for them. I'm not going to get into that.
