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...aren’t there enough precautions and safeguards in place that would kick in and prevent a freefall, but rather make a soft slide? I don’t pretend to be a financial novice, which is why I ask...

Of course you knew I would comment on the above. When banks can't function, trucks don't move and people starve and die due to no food, no water. Now, that we have covered that, the serious question is:

DO YOU HAVE A BUCKET?...DO YOU HAVE A BOTTLE OR TUBE OF VASELINE?

I am putting together a container garden on my back deck. Two days ago, I was working out there and needed a bucket. I go in the small outside storage room to get a bucket. I was not the outdoor type until I had to do this myself. I thought we had buckets - doesn't everyone have buckets? There was one blue bucket completely split apart - it was junk and I had no bucket.

So, the next day I'm in Walmart and pass cleaning supplies and there are buckets. I bought two buckets with handles, 10 qt. buckets, at about $2 a piece. Two, one dollar bills will not hold water or soil or anything. If there were no buckets to be had to buy, how much would these two buckets be worth? Do you think you have one bucket or more? When is the last time you looked at your bucket or buckets? Are you sure it or they are still working buckets?

I had a small fever blister on the outside of my lip. It is healing but the skin was dry and bothered me. Went in downstairs bathroom as I remembered there was a tube of Vaseline in there that we used in dealing with some of my husband's dry skin from having radiation.

I couldn't find the tube of Vaseline. Maybe I took it upstairs to put it with other medical supplies. No, it wasn't there. Back to the downstairs bathroom, maybe I put it in the cabinet under that sink. Yes, there it was.

I thought I had a small jar of Vaseline as well but it didn't turn up in looking for the tube. I had one tube of Vaseline that wasn't full. What would a tube or bottle of Vaseline be worth if none could be had? The next time I go to the drug store, I'm buying a few jars and tubes of Vaseline.

How long has it been since you considered your medical supplies and actually looked at them? Do you even know where some of them are? My buckets and Vaseline revelation metaphorically translates into every supply you think you have. How long have your supplies been stored - both outside and inside? Have they split or spilled or dried up?

Use your money to assemble what you must have to live as well as possible on your own. Then you know you have those supplies and if they triple in cost, you spent your money well.

Old Sarge, is the oil you need for your tools to work well, still good? Do you know where it is?

“My question would be, not WILL it happen here in the USSA, but CAN it happen?”

It sure can. Keep in mind that the value of a currency is in people’s willingness to accept it. The value of our currency is largely determined outside of the US; petrodollars and the use as a reserve/exchange currency. I don’t see the petrodollar thing changing that much very soon; the US is now a fairly big exporter of oil. But then again, other countries are beginning to exchange oil for gold or other currencies. The reserve currency though isn’t looking so hot for the US. Watch the numerous bilateral agreements China is executing to use their currency rather than the USD.

While a sudden, surprise hyperinflation is possible, I see the slide followed by a sudden drop as more likely. In any case, good luck in timing it. Diversification out of the dollar and into PMs would seem to be a wise move right now. You don’t have to and shouldn’t bet the farm, but I also think that the writing is on the wall for the dollar in the long term.