In a heated discussion with my husband last night, he said that he believed that the dollar would need to be replaced due to the deflation of it. Pretty soon, what we know as a dollar will be worth much much less, and is already around the world.
Is it possible to replace the dollar however? On which the strongest country in the world is based upon, that many global markets use as currency, and that which any corporation doing business in the United States must convert their books to? Is it possible to rewrite the entire accounting standards, tax codes, employment laws, investment laws, based on a new form of currency. Well granted I have not really looked into the history of the Euro, but I do know that the forms of currency that were condensed did not have the stature of the US Dollar. I sincerely believe that to even attempt such practice would meet in failure and expense that is unnecessary. Obviously, we're having some pains from how weak the dollar is,and it is likely to continue to weaken. Just take a look at our stock markets, the lowest they have been in over 6 years. It will continue to go down, but as with human beings in general, it will get so low, that it becomes a bargin, and people will get greedy again.
So for all those out there that may be thinking along the same lines of my husband, yes things are drastic, but not that drastic.