Hi,
I was wondering, did anyone of you ever thought about that if there were only sound money in place such as (BTC, Gold,...) all consumer credit is gone (credit cards) that are now handed out like samples by drug dealers.
How many that you know would survive such wake up call? Not being able to finance themselves by debt but only with money on the table. I think at least half the medium and up sized businesses would go bust in 1 month, about individuals - really no idea...
That is not exactly what will happen, if there was only sound money then governments will be unable to spend beyond their means by turning on the printing press but they could still ask for credit the difference is that you will need to pay in sound money too and the same will apply to people too.