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RE: Trust in the U.S. Dollar

in #currency8 years ago

I have similar experiences with my family members, haven't tried friends yet. When I mention how the dollar under ticker DXY has lost $2 in 6 days they don't bat an eye it means literally nothing to them, they do not get that it means that the money they have now has less purchasing power than 6 days ago and this trend of decreasing value looks like it will continue, and may collapse all together unless it is protected by the plunge protection squad at all the big banks. I believe the only way the the average person will loose faith/trust in the dollar is when it is no longer the king of fiat currency. Only then will we see a massive panic as everything will increase in price so rapidly people will not know what to do and by then people will be so worried about feeding their families that the opportunity to invest and get ahead with crypto will be mostly gone, they will be playing catch up and kicking themselves for it, especially the ones that didn't listen to friends or relatives.

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Exactly. Everything is so reactionary. The average person will not even consider it until after it is no longer an option.