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A Recession Worse Than 2008? - How To Survive & Thrive The Next Economic Crisis | Peter Schiff PT 2

Tom Bilyeu's Impact Theory

NOTE

The Fall of the Dollar: From Gold Backing to Petrodollar to Debt

In the 1970s, the US defaulted on its commitment to back the dollar with gold, causing its value to decrease. This led to high inflation and many Americans, especially women, needing to work to support themselves. The dollar stabilized in the 80s, but now its status as the world's reserve currency is in jeopardy as more countries seek to trade oil in currencies other than the US dollar. The US economy is in worse shape now than in the 1970s, with high levels of debt and trade deficits. Without a rainy day fund, the US is vulnerable and no longer self-reliant.

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