I mean, I’m a rando on the internet, so please correct me if I’m wrong here, if they collapse all Western currencies, they would have to move to BRICS currencies, or develop their own, and I don’t see anyone doing business with them but each other and desperately poor, basically reinventing company script?
Basically, their wealth depends on a stable society, and the continued undermining of the social contract will eventually lead to the system collapsing. There could be civil unrest, or even revolutionary changes going forward. If the government that represents the rich ends up collapsing, then all bets are off because their assets could just be seized at that point. The smart ones will likely try to move money out of western countries and divest from their assets there before that happens.
They would have lots of options since a lot of countries would take their investments, but I imagine a lot of them aren’t aware enough to act in time. It’s worth remembering that these people are very much insulated from the problems regular people experience. And a lot of them are very complacent. Every time we’ve seen a revolution in the past, the ruling class was largely caught by surprise when it happened.
I mean, I’m a rando on the internet, so please correct me if I’m wrong here, if they collapse all Western currencies, they would have to move to BRICS currencies, or develop their own, and I don’t see anyone doing business with them but each other and desperately poor, basically reinventing company script?
Basically, their wealth depends on a stable society, and the continued undermining of the social contract will eventually lead to the system collapsing. There could be civil unrest, or even revolutionary changes going forward. If the government that represents the rich ends up collapsing, then all bets are off because their assets could just be seized at that point. The smart ones will likely try to move money out of western countries and divest from their assets there before that happens.
They would have lots of options since a lot of countries would take their investments, but I imagine a lot of them aren’t aware enough to act in time. It’s worth remembering that these people are very much insulated from the problems regular people experience. And a lot of them are very complacent. Every time we’ve seen a revolution in the past, the ruling class was largely caught by surprise when it happened.
A people that has nothing to lose and something to gain can be fierce. We’ll see what we’re made of!