(speedily skimmed the newsletter so far) … and this part makes me wonder:

“But we’re starting from a developed market base with an entrenched global network effect, and as things get worse, our currency could resemble the currency of a developing market in many ways. It could look more like Brazil’s currency, then Egypt’s, then Turkey’s, over quite a long timeframe. It doesn’t jump from being the US dollar to the Venezuelan bolivar in the course of a year or even five years, short of something like a nuclear strike or a civil war.”

… so while that’s happening slowly for America, what’s happening to Brazil, Egypt, Turkey, and Venezuela’s currencies (plus other countries), which are already at those lower levels … and reminds me of that part in Broken Money about “pushing chaos to the periphery”? 😬