Are we at risk of hyperinflation?

What do you see when you look at the global economy..

If you do not follow economists or watch the financial markets, then you may think that everything is great!

Stocks are at all time highs (even with the dip in the last 3 days), and prices seem fairly low.

Most people would say that we are seeing "King Dollar" right now.

But what's causing this?

People like Peter Schiff and Jeff Berwick (Hive account@dollarvigilante) will say, and have been saying for a long time is that we will see a peak before the crash.. 

Are we at that peak?

Obviously the dollar is not pegged to gold, and hasn't been since 1971.

So where does the value of a dollar come from?

Gold backed currencies

Now when the dollar was backed by gold it was the most trusted form of money, and became the reserve currency of the world.

But now it seems like other countries are starting to lose faith in the dollar, and investing in gold.

China has announced that the Yuan will be backed by gold, and if other countries start moving out of the dollar and into gold or even other currencies (like the Yuan), or even into commodities like gold or silver.. 

What would this do to the purchasing power of the dollar?

Will the U.S. start looking like Venezuela?

If you look at Venezuela's past you will see that the the dollar and bolivar have followed very similar paths, and the 2 main differences is that Venezuela relies mainly on oil, and the dollar is the global reserve currency.

Can this be maintained.. Or is the dollar the last man standing in a currency war that nobody can win?

Obviously it is known that China will be the global leader in the world economy, but with the lack of regulations and the air pollution a lot of people may prefer the capitalist, regulated ways of America.

Conclusion

The main thing to look at and ask ourselves is.. 

Can the U.S. balance the budget and pay back $20 trillion in debt.. Or will the dollar do the same thing that all currencies do?

I think that unlike the past currency collapses we are at a pivoting moment in history where cryptocurrencies like Bitcoin and platforms like Steemit are creating opportunities for people to still be able to exchange a form of value without having to adopt another countries currency.

So if the "old" economy is collapsing.. hopefully a new economy (a digital economy) is being created, and bridging the gap between debtor nations and emerging economies!