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[lookout123]

Originally Posted by Clodfobble

What practical applications would this have on daily life? All imports more expensive, but domestic items still relatively affordable? Or would we start paying $30 for a loaf of bread?

Well that depends. Do we have the infrastructure to be independent for some time? Is our military strong enough to take on some very pissed off countries who currently hold our debt?

There really is no answer because while possible, it hasn't been considered probable so it is only theory at this point. It could range from a measured gradual move to a new currency with an established conversion rate such as they had while transitioning to the Euro. Of course, the other end of the spectrum is that we have a ridiculous deflation/inflation swing and they just start printing new money tied to the gold standard. Take your pick.