“Let not England forget her precedence of teaching nations how to live.”
~ John Milton
Written by Bryan Lutz, Editor at Dollarcollapse.com:
Everywhere I go, whenever I tell someone about the real economic conditions of the world people are filled with dread.
They’re paralyzed.
In fact, last Spring when the some of the first of America’s overleveraged banks started crashing I stumbled into a conversation with some Gen Zers at a Sunday event.
They asked what I did. So I told them.
And they too were filled with dread…
These days there is no precedence for how to deal with danger.
No one knows, or even thought about what they might do in a crisis because life has seemingly had very few options, and most people just follow others. They do what everyone else is doing.
They go to school, college or university. Then they get a job. Buy a house. Have a family. Rinse. Repeat.
That’s lasted for about three generations.
It’s about enough to set precedence without ever understanding how people lived four or five generations ago…
They took advantage of the opportunities around them, worked hard, and provided a foundation for the next two generations.
That being said, there is always opportunity in crisis.
Especially as the dollar collapses.
There is precedence for this too…
History shows the dollar is on its way out.
Over the last 400 years world reserve currencies have changed hands several times.
Today…
There’s still nothing new under the sun.
The US Dollar became the world’s reserve currency after the demise of the British Empire and the Pound Sterling.
A little over 120 years ago, the Pound Sterling dominated global trade like the US Dollar.
In 1899, the Pound Sterling comprised 63.4% of the “global” currency circulation.
Today, the Pound Sterling has about 5% of the global currency circulation.
Here’s what happened:
Britain moved from healthy economic production to a position of power, leadership, and dominance in Europe. Then, excess.
Their leaders enjoyed their wealth and power until two things happen.
Competitors like the United States, for example, rise up with innovative new technologies, while at the same time Britain’s excess results in manipulation of the money supply to solve “national crises.”
Then…
- Britain borrowed excessively.
- Boom and bust cycles created slow and then fast inflationary bubbles.
- Leading to an economic crash.
I don’t want to see the United States fail. I believe in the idea of America…
About life, liberty and the pursuit of happiness, but crisis is coming.
Every empire falls, history gives us precedence.
Yet, especially in times of crisis and change, there’s also precedence set for prosperity.
And those opportunities can be found in two places:
- New innovative technologies outside of the current regime.
- Hard assets and the production of real things.
You see, taking advantage of opportunity is not a mystery.
There is precedence.
And it is already set.
So, why make optimism and hope confusing?
Crisis equals opportunity…
Every time.
