The Day The Dollar Dies Willard Cantelon Pdf
Introduction
"The Day The Dollar Dies" is a book written by Willard Cantelon in 1973. The book talks about the potential collapse of the US dollar and the resulting economic chaos. The book is still relevant today as the US dollar is still the world's reserve currency and the potential collapse of the dollar would have a major impact on the global economy."
The US Dollar as the World's Reserve Currency
The US dollar has been the world's reserve currency since the end of World War II. This means that many countries hold US dollars as a part of their foreign exchange reserves. The US dollar is also used for international trade and is the currency in which many commodities, such as oil, are priced. This has given the US an immense amount of power and influence in the global economy.
The Potential Collapse of the US Dollar
Cantelon argues in his book that the US dollar is not immune to collapse. He points to the fact that the US has a huge national debt and is constantly printing money to finance it. This could lead to hyperinflation and the collapse of the dollar. Cantelon also argues that the US is too dependent on foreign oil and that a disruption in the oil supply could lead to the collapse of the dollar.
The Economic Chaos that Would Result
If the US dollar were to collapse, it would have a major impact on the global economy. Many countries would be affected as they hold US dollars as a part of their foreign exchange reserves. There would also be a major disruption in international trade as the US dollar is used as the currency for many transactions. The resulting economic chaos could lead to social unrest and political instability.
What Can be Done to Prevent the Collapse of the US Dollar?
Cantelon suggests a number of measures that could be taken to prevent the collapse of the US dollar. These include reducing the national debt, reducing the US's dependence on foreign oil, and increasing the value of the US dollar. However, these measures would require significant political will and may not be easy to implement.
The Importance of Diversification
In light of the potential collapse of the US dollar, it is important for individuals and countries to diversify their assets. This means holding assets in different currencies and in different countries. This can help to mitigate the risk of a collapse in any one currency or country.
Conclusion
The potential collapse of the US dollar is a serious concern and one that should not be ignored. Willard Cantelon's book "The Day The Dollar Dies" provides a warning and a call to action. It is important for individuals and countries to take steps to diversify their assets and to work towards reducing the risk of a collapse in the US dollar.