Definition – What does U.S. Dollar Apocalypse mean?
The U.S. dollar apocalypse refers to the various speculative scenarios that have been predicted to arise if the U.S. dollar were to collapse. The U.S. dollar apocalypse scenarios range from mild disaster where the world economy is hampered as a replacement world reserve currency is being set up to huge disasters where global trade collapses and armed warlords push the world back into the dark ages.
ForexTerms explains U.S. Dollar Apocalypse
The U.S. dollar apocalypse scenarios usually exaggerate the importance of the USD to the rest of the world. While it is a convenient currency for trade, it could be replaced by any other major currency, a basket of currencies or even an entirely new currency just designed for world trade. Many currencies have collapsed or been severely devalued without sinking the global economy. Although the impact of a U.S. economic collapse would be large, it is unlikely that it would result in all other nations of the world giving up on trade and holing up in their houses with guns, ammo and canned food.