Using a basket of US produced commodities to Index a new Currrency to could essentially circumvent

every aspect of this crisis. US defaults, so the full faith and credit of the united states is very damaged, but instead of simply accepting no one wants to lend us money anymore it issues a new Currency that's indexed to many many different assets that way could shift the weights around as needed at the fed to maintain a stable purchasing power.

Top | New | Old

ArishMell · 70-79, M

That seems an extremely complicated way and still won't guarantee to solve the basic problems of inflation and national debt.

Would it not be far simpler to keep the Dollar and control that as you suggest?

PDXNative1986 · 36-40, MVIP

@ArishMell No, because we can't pay our debts and if we don't pay them then we destroy the confidence in the dollar. if we keep growing the national debt we destroy the confidence in the dollar.

ArishMell · 70-79, M

@PDXNative1986 I agree, but I don't see how creating a parallel currency would help reduce the debt. Any nation has only a finite amount of money, whatever it calls that money.

Worse, it could harm the Dollar's reputation more, as the foreign money-traders could read it as the USA itself losing confidence in its own, main currency.

Every country seems in debt....

Add a comment...