This website uses cookies to improve your experience.

Please enable cookies to ensure you get the best experience on our website

Sign the petition

to call for a

Convention of States!


Dollar crash "inevitable" as nation suffers under massive deficit and debt

Published in Blog on June 16, 2020 by Convention Of States

29720 big

The crash of the U.S. dollar is "inevitable" due to our country's out-of-control deficit and debt, according to one economist who appeared on CNBC’s “Trading Nation.

Stephen Roach is one of the world’s leading authorities on Asian economics and a senior fellow at Yale University. He believes that the dollar is going to fall "very, very sharply" as the deficit and debt become unmanageable. 

“The U.S. economy has been afflicted with some significant macro imbalances for a long time, namely a very low domestic savings rate and a chronic current account deficit,” the former Morgan Stanley Asia chairman told CNBC’s “Trading Nation” on Monday. “The dollar is going to fall very, very sharply.”

His forecast calls for a 35% drop against other major currencies.

“These problems are going from bad to worse as we blow out the fiscal deficit in the years ahead,” said Roach.

According to The Balance, "A sudden dollar collapse would create global economic turmoil. Investors would rush to other currencies, such as the euro, or other assets, such as gold and commodities. Demand for Treasurys would plummet, and interest rates would rise. U.S. import prices would skyrocket, causing inflation."

For the average American, this would look like an economic recession or even a depression. Unemployment would skyrocket as Americans lose their jobs, and families across the nation would lose their homes, businesses, and livelihoods.

The risk of a dollar collapse is made worse by the coronavirus pandemic, but as Roach points out, these economic problems have afflicted our nation for a long time.

Why? Fiscal irresponsibility from the federal government.

For years, Congress has spent and wasted taxpayer dollars without a thought to future generations. It has racked up an enormous, incomprehensible $26 trillion national debt, and no one in Washington is talking about ways to reduce the deficit and get the debt under control. 

That's why the American people need to step in, and we can do it with an Article V Convention of States.

A Convention of States has the power to propose constitutional amendments that force Congress to be fiscally responsible. These amendments can mandate a balanced budget, cap taxation, and, most importantly, limit spending.

Our government wastes billions of taxpayer dollars every year on duplicative, wasteful, useless government programs and initiatives. It's time we compelled Congress to address this waste, and the Founders gave us that power in Article V of the Constitution.

Sign the petition below to voice your support!

Sign the petition to call for a Convention of States!

1,656,400 signatures

Petition your state legislator

Almost everyone knows that our federal government is on a dangerous course. The unsustainable debt combined with crushing regulations on states and businesses is a recipe for disaster.

What is less known is that the Founders gave state legislatures the power to act as a final check on abuses of power by Washington, DC. Article V of the U.S. Constitution authorizes the state legislatures to call a convention for proposing needed amendments to the Constitution. This process does not require the consent of the federal government in Washington, DC.

I support the Convention of States Project; a national effort to call a convention under Article V of the United States Constitution, restricted to proposing amendments that will impose fiscal restraints on the federal government, limit its power and jurisdiction, and impose term limits on its officials and members of Congress.

I want our state to be one of the necessary 34 states to pass a resolution calling for this kind of Article V Convention. You can find a copy of the model resolution and the Article V Pocket Guide (which explains the process and answers many questions) here:

I ask that you support the Convention of States Project and consider becoming a co-sponsor of the resolution. Please respond to my request by informing the national COS team of your position, or sending them any questions you may have: or (540) 441-7227.

Thank you so much for your service to the people of our district.

Respectfully, [Your Name]

Msg & Data rates may apply. Msg frequency varies. Text HELP for Help or text STOP to end messages. View Terms & Conditions and Privacy Policy.

Provide your full address and we will deliver your petition directly to your state legislators now and again during the legislative sessions, Free of Charge. We Protect your privacy.

We welcome all US citizens to support our movement by signing the petition. To deliver the petition to your state legislators, you must enter your full address, which must be within one of the 50 states. For military personnel serving overseas, or for expatriates, enter your Voting Residence Address .

Please be sure to check the "Send me email updates" box, and include your phone number above.

How did you hear about us:

Click here to get involved!
Convention of states action

Are you sure you don't want emailed updates on our progress and local events? We respect your privacy, but we don't want you to feel left out!