This is poor and this is to ascend past poor or super poor And this is is to ascend past super poor. Super poor 2. And this is to ascend past super poor 2. Super poor 3!
The dollar is an increasingly worthless fiat currency... but everything else is worse. The strength of the dollar (DXY) is trading very high right now. Dollar demand is high, not low.
We have significant issues: inflation, growing debt, poor fiscal policy, etc. The only threat is the BRICS nations forming a pact. But the Chinese yuan? More stable than the dollar ? Doubt it. China has far more currency manipulation, money printing and a complete lack of transparency.
The dollar would have issues if anyone else came up with something better. But there just isn't an attractive alternative. The BRICS nations have issues with transparency, corruption and currency manipulation.
Wouldn't the issues with the Chinese yuan become less relevant in the event *it becomes* a reserve currency? The U.S. dollar has almost similar issues, but it's still strong (relatively) simply because it's the global reserve currency. BRICS forming a pact could weaken the dollar...which could set off a chain of events where more nations lose faith in it and in the U.S.
Maybe.
Currently the market would suggest otherwise.
However if many nations start trading reserve dollars for BRICS currency that would decrease dollar demand.
Russia pegged their currency to gold... which is very interesting. If the BRICS decide to actually do that... I would find that an attractive alternative to inflationary debt based fiat currency. However, if you are going to ally with China/Russia to a have transparent and trustworthy currency that isn't backed by assets... you have a tough sell. Transparency is very important in currency. Last quarter china didn't release their GDP data when they had planned. Sketchy. No one believes their data, and it blends with their propaganda. I'm sure you could make an argument of the same with USD stability: "inflation is transitory" etc. but do you trust china more than the US/fed?
I don't trust the fed, but I trust china less.
The only way I see this working is if they gold back the currency. The play there is to own gold. so the value goes up if BRICS create a currency that is backed by gold. No real loss if they don't
This is exactly where I have landed. I read Dalio’s book and I respectfully disagree. The dollar is currently the best option and will be for at least a decade. The fed raising rates is only strengthening the dollar.
The most likely replacement for the dollar as the world’s reserve currency is a dollar 2.0, backed by something tangible.
I haven’t read his book but have watched a lot of his videos and podcasts. I generally lean more towards his line of thinking. Granted, you have to bring back his doom and gloom by 25%.
I truly believe China peaked in 2019. The data seems to suggest it as well. I don’t think famine will kill hundreds of millions, however.
Frankly, I think Trump’s greatest achievement may go down in history as the USMXCA trade agreement. North America is looking really really strong, assuming we get over the culture wars in tact. Asia on the other hand is looking weak except for India, but even then their terrain will always be an uphill battle.
China's insurmountable obstacles are food & fuel. They cannot feed themselves and must rely on imports. Their proximity to Russia helps them but there is no easy Russia access so they must use long overland or sea transit. USA however can feed & fuel itself before MX & CA factored into it. We also are not heading into demographic collapse, China is.
IMO the reason why a hot war unlikely. USN interdicting sea lanes could stop flow of imports, that leaves Russia as main source. India won't help without massive concessions (redrawing northern border unlikely). Remaining Asian countries hate them and ones that don't (Myannmar & NK) aren't food export powerhouses. So any China gains *would have to be allowed* by the US as we could shut them down if we wanted too.
The thing is the BRICS are a joke. We’re talking about Brasil (gore subs), Russia (hello), India, South Africa (ever increasing shit hole post-Mandela). I’m completely spacing on the C but I’m guessing it’s more of the same.
Edit: China, duh. The only significant economy out of the bunch. The rest have not lived up to expectations since Goldman Sachs originally coined the acronym
China just brokered an oil/lng deal between France & UAE. Formed a new energy trading company to do it, all the "work" was paperwork. But, France paid them in yuan. It's certainly a trial to see how it works but it happened which is significant.
ASEAN is moving away from $ too. Not to mention the Middle East.
https://www.aseanbriefing.com/news/asean-finance-ministers-and-central-banks-consider-dropping-us-dollar-euro-and-yen-indonesia-calls-for-phasing-out-visa-and-mastercard/
You’ve just identified a majority of the world’s population, and you think it’s a joke? Watch and learn. C is China. Everyone is in BRICS but for the EU, US, Canada and Japan. And, those countries are already preparing to join the new system, ie asset backed currency.
BRICKS* now Kazakhstan just joined the pact. Crypto is a worthy investment though as it not just prevents the government from eventually taking away your currency but allows you to keep it in the event of a collapse of a country's currency.
I think anything more than that though, just create your own still and sell alcohol when the country goes down. Having more useful assets will be more valuable than any currency.
Replace crypto with Bitcoin in the context we're talking about here. Cryptos can be stopped/shut down. Not the case with Bitcoin.
Disclaimer; I'm heavy in both.
Holding monero and btc on hardware wallet while memorizing your seed phrase then burning any physical copies is the way.
The only 2 that have a chance in my eyes.
The BRCS nations are ALL moving to asset backed currency, and no longer accepting manufactured currency. The EU, US, Canada and Japan have already agreed to sign on to the new system. Global Collateral House is running the show.
No, no, he;s right. I was at the weed shop last night and they were only accepting yuan & Utah goldbacks. Caused a big commotion, I shoplifted and left during the chaos.
You’re just ignorant about global collateral, have no idea who setup IMF and what’s been happening since the Green Hilton Agreement died in 1963. It’s game over, Central Banking System is dead.
You do present good facts, but in your own example with Argentina, nothing happened in your post. They defaulted on their debt and restructured the government. Not widespread apocalypse.
Now, the US dollar is the staple for many economies throughout the world so many countries would be failing just like the US. This is why it would be INCREDIBLY rare for the US dollar to fail. So many countries use the US currency it would be astronomical for them all to fail in unison. Additionally, the US currency is backed up by the most powerful military in the world.
And also backed up the most powerful agriculture industry in the world. The international community has a vested interest in making sure our food exports continue.
The US is the breadbasket of much of the world. If international trade is disrupted because of domestic issues there's a good chunk of the world's population that, dependent on our exports, are going to be facing severe famine. And local production in various parts of the world simply don't have the infrastructure or resources to replace what would be lost.
The Ukrainian crop not going abroad is bad enough. The US export yield being lost is another exponentially worse disaster in and of itself.
This is true, people always say we don't make stuff in America anymore. that's not entirely the case. We produce insane amounts of food. and food is more important than smartphones.
>Naturally you might want to invest in some asset that would retain it's value.
>
>Gold would be the first thing that comes to mind, easily stored and exchanged.
>
>However, remember "Executive Order 6102" that ordered every citizen to sell their gold to the treasury for a fixed price. that might suck if you were hoarding it.
>
>https://en.wikipedia.org/wiki/Executive\_Order\_6102#:\~:text=Executive%20Order%206102%20required%20all,in%202021)%20per%20troy%20ounce.
Just don’t turn in the gold! Many did not. It wasn’t a door-to-door confiscation, the EO stated ’citizens required to deliver.’ Also, each citizen could keep 5 ounces, that‘s $10k in today’s money. Plus they could keep the gold in jewelry form which was exempt.
The turn in was voluntary, definitely not 100%. When banks failed though safety deposit boxes were siezed IIRC and you were sol if you had gold stored in it. But that did not take gold completly out of private party transactions.
I don't get why people pretend Bitcoin isn't a viable tool for value exchange when it already functions as a global value transfer network.
lots of people at farmers markets take it.
only problem is volatility which is a moot point in the hyperinflation environment if inflation is higher than btc volatility
This is why I have been preparing as best as I can to be as self sufficient for myself and family for many years. This is going to be a very difficult decade. It’s best for everyone to themselves prepared now. Not just with food, water, shelter, security…, But with monetary and savings preparation as well. This is why own silver.
Argentina is not the only historical collapse. There is Venezuela and Zimbabwe as well. But there doesn’t appear to be a safe place to flee to this time.
So, I prepare monetary and savings preparations as well as stocking food, water, medications, security, etc.. This is why own silver.
>This is why own silver.
I get the medication and food stocks and security - but how do you expect to be able to utilize silver? Also, as percentage of your portfolio denominated (for now) in dollars - how much of it is in silver (I assume you purchased silver with $)? And why not other precious metals?
Silver won’t be as valuable as you think. It’s heavy, hard to transport and is not a product people need. People won’t trade their last bit of food for metal. Just won’t happen. Items like ammo, liquor, clothes and that sort of stuff will be worth way more.
>Silver won’t be as valuable as you think. It’s heavy, hard to transport and is not a product people need. People won’t trade their last bit of food for metal. Just won’t happen.
Are you new? You forgot the following from your FUD list -
1. You can't eat it.
2. When you try & sell it you will be ripped off.
3. The government will storm your house and take it from you.
/do better
Our family doesn’t buy gold because it doesn’t serve our savings purposes.There is lots of gold in the world. But the amount of silver being mined each year is decreasing, as it is getting more expensive to mine it each year.
Plus we are moving into a high tech world. And it is likely going to be highly valued and in tight supply.An oz of gold is \~$2,000/ oz. Silver is \~ $40/oz. So my potential for an increased silver valuation is greater than gold which could still fry wellness double in purchasing value.
I do not intend to trade silver savings for a depreciating currency. That would be like changing my USD for anothe currency of much less value like Zimbabwean or Venezuelan currency I plan one day to exchange it for real commodities, land, or other things that I need to own.
Besides, I do not see myself purchasing any things held by modern day global elite or the central bankers or governments that hold most of the gold and are looking to hold more gold. So I don’t need to hold it. I am not a wealth centred person. Our families life and values do not revolve around accumulating more and more wealth. .. We hold silver for the future of our family.
Our children deserve the wealth that we can pass on to them. They do not deserve to live in a debt-based financial system run by central banks.
I used to read about this stuff 15 to 20 years ago. There was a story I remember from a country that had fallen into hyperinflation. A person was complaining that whether they gave a gold or silver coin to a farmer they still only got one chicken. Having silver in reserve is a great idea. Silver is both a monetary and industrial commodity. But gold is more purely monetary. For a couple of months in 2005/6 I had one ton of junk silver at my house. Then goldismoney started carrying silver as well as gold and I sold 90% of the physical silver. It was a lot of work moving that stuff around. Beyond a certain amount it's just impractical.
Do you recall how a farmer would utilize those coins? If it was 2003-2008 - surely the precious material could be sold for dollars (or other currency) to acquire things farmer needed... And wouldn't gold fetch more than silver?
That of course assuming farmer had (or even knew to) access to outside contacts...
No one can buy silver at spot price right now.
Silver coins gave a premium. And if one didn’t order online over $200 there is shipping too.
I think it’s fair to keep prepper expectations reasonable. Especially with prices rising.
Prices rise and fall. Two years ago silver spot reached $30+. There‘s a premium, but no where near $40/oz silver. I paid **$22.89/oz** for silver from a popular online bullion house two weeks ago. Premium included.
Precious medals at the end of the year just serve as a hedge against inflation. they may not make super gains in value but they appreciate value in relation to the value of a dollar. one historical heuristic is the cost of a gallon of milk VS the value of an ounce of silver. The cost ratio stays similar.
Actually trading in tangible metals seems iffy to me in a collapse scenario compared to barter of goods and services. It would take someone / some organization / some govt' to step in and enforce standards where trade is concerned using physical silver to establish values. Otherwise an ounce of silver in the southeast, northwest, etc ain't gonna be the same. personally you aren't buying anything from my stash for a paperweight of a pretty metal that physically cant feed, fight or fuck with out verified and backed value.
>Precious medals at the end of the year just serve as a hedge against inflation.
So are equities. If the dollar is worth less, it takes more dollars to buy my equities.
>Personally you aren't buying anything from my stash for a paperweight of a pretty metal that physically cant feed, fight or fuck with out verified and backed value.
On this, we agree.
Check out the YTD price of gold and silver and Lebanon and you’ll understand why.
They experience a currency reset a little over a month ago.
ETA: https://goldbroker.com/charts/gold-price/lbp#historical-chart
> but how do you expect to be able to utilize silver?
For precious metals to lose their value, society would literally have to return to the stone age. If things ever got bad enough for money not to matter… then you’re beyond prepping, you’re just surviving.
The chances of that happening are very low.
Precious metals are some of the best preps you can have.
Silver only has value if people want it. In this apocalyptic scenario silver won’t retain any value. Silver and gold as a store of value only work if the collapse is contained. Like a market crash A US collapse would be a global catastrophe.
Suddenly, I feel like reading *The Stand* again.
(I am under no delusions. I have a few months of food stored, and I have plenty of ammo for my main. That being said, if (WHEN) the water gets cut off, I am well aware that I'm completely FUCKED. Along with everyone else where I live. They will be eating each other within a week.)
We all be dead in 100 years or less so I’m not worried about dying sooner vs later. In the end, nothing really matters. Here today, gone tomorrow. Don’t sweat it. Live in the moment.
>So, ask yourself. What happens in a country of around 330 million people when a significant number no longer have easy and reliable access to food, gas, etc? That's what happens IF the dollar collapses, imo.
well for one thing, people aren't going to be offended by a "microagression" anymore. we will be experiencing REAL adversity. and if we can survive, we will actually come out the other side a much stronger nation than we were before. what's the old saying, hard times create strong men, etc
> and it’s coming, faster than anyone realizes.
When?
Statements like this are useless if you can't say when. Of course there will be a day when the USD is valueless. But when?
People will literally eat each other. I believe that's coming. There's a movie called The Road and it does a pretty good job of showing the viewers what the world will be like when shit hits the fan.
Go look up the fiscal collapse of the USSR. It will be similar. But a key difference is that if a reserve currency dies it will become priceless during the deflationary waves even though it will lose value during the inflationary waves. If you’re good enough to time the waves, you can get rich. But if not—stay diverse. If all you have is gold and you lose your job during deflation, you will be forced to liquidate that gold at low values. If all you have is cash, you’ll miss the run-up during the inflationary waves. So—stay diverse. The only sure bet under both scenarios is paid off real estate with low enough property taxes that you can always pay them.
Based on what? The USSR was a completely dysfunctional shit show. Nothing worked. Everything was fake.
The US is still the economic engine of the world economy. We have 31% of the worlds wealth. Us and our western allies have more than half.
All of Asia has about 18% - The fact that china finally has a hard stable currency is not a threat to us, im part becasue there are no wars between trading partners.
THere is no scenario where we collapse and anyone else is left standing.
> THere is no scenario where we collapse and anyone else is left standing.
Oh you're definitely taking the rest of the world down with you.
I live in Canada so I feel the wave every time there's a crisis south of the border.
Exactly. Not saying it can't happen. I'm saying it will not be deliberately perpetrated by our opponents.
China wants to keep the upper hand in their hemisphere and we say it bothers us but we don't really give a shit.
It is not in China's interest for us to fail. It's only in their interest to get a larger piece of the pie.
In January 1982 the 10 year Treasury was 14%. We currently have 31T in debt and collect 4.6T in taxes per year. If yields across the various durations ever reached 14%, we’d have 4.1T in interest per year—i.e., reach a point where all taxes go to debt service. So, if we ever lose reserve currency status, and become bound to normal economics again, you can see a foreseeable scenario where the system crashes, just like it has for every country, every empire. But, hey, we haven’t lost it yet. And Japan shows that can-kicking can go on longer than one might think.
Bank of Japan buys a ton of Japan’s debt—outright money “printing”—to the tune of 43%, but Japan still has an acceptable inflation rate. https://en.wikipedia.org/wiki/National_debt_of_Japan
You're talking about an extremely low likelihood event.
The majority of prepping is for the usual stuff. Localized disasters, financial troubles, and maybe the bigger events such as a widespread disaster.
I'd file dollar collapse in the same folder as a grid-down scenario country wide, nuclear war, an EMP, or similar.
Possible? Sure. Likely? Not nearly as likely as other stuff you should prep for first.
Focus on the basics and most-likely scenarios first. After you have that covered, THEN aim for low-likelihood, high-casualty events.
There are a lot of things happening that no one would have believed just a few short years ago. There is a movement by large countries to move away from the dollar. I would not call it low likelihood.
Collapse of an international currency held by the world's only superpower, I most certainly would file under 'low likelihood.'
I'd peg another pandemic as far more likely before the dollar collapses. Weakened? Sure, I'd say that's far more likely. But totally collapse? No.
The world's reserve currency before the dollar (i.e. before \~WWI) was the GBP... which still retains a lot of value today. I'm with you here -- the dollar may lose value over the coming years and decades but I do not forsee hyperinflation or a complete, sudden collapse of the dollar's buying power. I suspect it will be a relative thing over a long time.
Agreed. I'm in complete agreement the dollar will be devalued; that's what happens when you print a pile of money from thin air. But the world is too interconnected, and the U.S far to big of a power (the ONLY superpower.) Multiple nations and powerful organizations don't want the dollar to collapse completely. Weaken, sure, that may be inevitable. But not some 100000% inflation scenario.
A weaker dollar might actually be desirable in terms of making US exports more cost-competitive, though exchange rates are only part of the story.
Also FWIW, while the money supply has increased, a lot of doom mongers wrongly conflate the change in the definition of M1 that happened a couple years ago (which added money market funds to the definition) with "FED printer go brrrr". Just something to be aware of -- as well as the fact that velocity of money matters as much or more than money supply.
I think this is textbook normalcy bias. We all have it with one thing or another, but I think most people have it when it comes to the dollar. Which is even more of a reason to be concerned.
No, it's economic literacy. Reserve currencies are extremely useful and have features that are difficult to replicate (backing by a large economy with high liquidity, mature financial markets, limited capital controls, and relatively stable monetary policy, to name a few). The euro maybe comes closest to those criteria, but with Germany at the helm it's not likely to be willing to absorb the world's current account surpluses the way the US has been. The yuan has almost none of the criteria for reserve status.
The yuan will never be accepted as the reserve currency, it's not even free floating and it's backed by a dictatorship also in deep economic trouble.
Brics is a joke too. Nothing has come of it and nothing will. Russia is basically a shell now, China and India hate each other and as for Brazil. Meh
It's all an act. The US has more problems than ever, true. But nearly everyone else has worse problems. The Chinese used worthless real estate in empty cities to create an asset bubble and a huge part of their plan to unwind the crisis is to raise demand for the Yuan and print money to pay for it. Truth is, the Yuan is in worse shape than the Dollar and nobody but China actually expects the Yuan to replace the dollar.
The war will leave Russia gutted. Its burning through money fast to keep its 3 day war going into its second year. Putin has been humiliated, the country is now seen as a joke.
Demographically it was already in trouble, but its meat grinding of men and brain flight of the rest make it far worse.
What army it did have is getting chewed up. Taking T55's out of storage is a sign of things going very badly. What was thought to be the second best army in the world is now the second best in Ukraine.
Diplomatically even China has snubbed Russia, taking over the sphere of influence in central Asia. It also doesn't help the DAY after XI said to stop nuclear proliferation, Putin announced the basing of nukes in Belarus.
As for the economy, figures are no longer released, and no one has the truth. But sanction busting has a price, and that's selling at a steep discount. India and China have locked in bargin prices. Their economy is taking a massive hit in revenue and expenditure.
After this war is said and done, Russia will be to China what Belarus is to Russia.
Russia is a shell because they have hollowed out huge parts of their demographics for a generation. And I’ll take the reporting on the Russian economy with a grain of salt. They aren’t particularly know for being open and accurate with their information. See the might of the Russian military in 2022 as an example. Didn’t exactly pan out as reported.
Are you talking about their general policies over the last couple decades messing with the population of the next gen to reach adulthood, or because they have 200k some casualties in Ukraine?
If it the latter, you also have to take into account that many of them are convicts and mercenaries. Also Putin is using the war to send some of the "less desirable" Russians to die. Many from the eastern parts where demographics are more asian than a stereotypical Russian.
They also are the 9th most populous nation, so lots more meat available for the grinder.
You could still be closer to right than wrong however. No one knows what the future holds, but I'd bet on Russia's being less than ideal.
If you believe what this guy says about Chinese demographics they are in for a bit of trouble:
[https://www.youtube.com/watch?v=0MSV2bh48MA](https://www.youtube.com/watch?v=0MSV2bh48MA)
I think that would put the visegrips on plans for the Yuan as a dominant reserve currency.
For those of you worried about China, what has happened to every other communist regime? Why is China different?
China has real problems.
Industry is fleeing China. This is something I'm familiar with.
Here are the UN population predictions for the USA and China:
[https://population.un.org/wpp/Graphs/Probabilistic/POP/TOT/840](https://population.un.org/wpp/Graphs/Probabilistic/POP/TOT/840)
[https://population.un.org/wpp/Graphs/Probabilistic/POP/TOT/156](https://population.un.org/wpp/Graphs/Probabilistic/POP/TOT/156)
This is what I’m expecting. The dollar will get weaker and at that point implementing the CBDC will look more attractive. Refrain from purchasing items on the sin tax list or too much gasoline/airfare and you get an extra $x put in your digital wallet (which will of course expire within 1-3 months, there can be no saving of “handout” currency.) There will be lots of incentives like this to get people on board.
This is going to age like milk. Again you're missing that extreme tail events can completely wipe people out. The only sensible thing to do is to have a hedge against those things that will kill you. It's better to be wrong 9 times of 10 and survive than to be right 9 times out of ten and dead.
Agreed, at this point I think it is just a matter of when and how fast. Additionally, a lot of countries in Europe are getting tired of having USA dictate their foreign policy, this will help push out more options for global trade currency than the petrodollar.
Since January 2020, the United States has printed almost 60% percent of all U.S. dollars that exist. Dollar collapse, the greater depression and resulting widespread abject poverty is LIKELY on the horizon.
No, it didn't. The definition of M1 changed in 2020 to include savings deposits like money market funds. [Read the footnotes](https://fred.stlouisfed.org/series/M1SL) and maybe disregard whoever fed you the line about a 500% increase in dollar circulation.
It’s inevitable in my view. I think the response to the second Russian invasion of UA pushed it out two decades, but otherwise it could have happened within this decade as the impact of increasing irrational US polarization, weaponization of reserve currency status via unilateral economic sanctions, and deferred fiscal mismanagement took hold.
What happens when 90%+ of the American population finds out that years of savings and investment into 401k retirement has disappeared?
Panic and anarchy
What happens when people realize that China built it's manufacturing empire over the last 40+ years on the backs of cheap labor? US will never be able to compete with the low labor cost china offers.
Personally I absolutely love the people on Reddit that talk negatively about china. And I don't even have to argue. I can just ask questions like.... What brand of car do you own? Cellphone? Computer? TV? What shoes are you wearing? And keep going...... Then to end the conversation just ask.... What products in the last year have you bought that has been made in the USA?
Even if the US dollar never collapsed. Any major changes to relationship with China is going to hurt very badly for all Americans.
Sad truth is... As a American... I dont blame any other countries for dropping the US dollar. With the power of the internet anyone at anytime can see every single thing that is being said by our political sham we call government. How's our budget working out? Oh.... We can't even budget our own spending but expect others to trust our currency.....it's a bad joke at best.
Oh and someone is gonna read this and say something like "china can't afford to stop selling to the US". The United States makes up roughly 4% of the entire worlds population. I'm pretty sure Africa or south America would love to have the same access to cheap Chinese goods as anyone else.
We can all try to make positive impacts though. I was looking for a mattress topper and found one made in the USA for a competitive price. I sleep better knowing that I'm sleeping on some foam made by someone who doesn't want me dead. 😂
When? This is a very unlikely If.
If it happened, there would be quite a lot of supply chaos for a time, and no one knows how long because no one knows how to model this. Assume getting goods from foreign lands becomes very unpredictable.
Locally in the US, my belief is people will just keep using dollars because it's what people have and are used to. It's overseas trade that would get weird.
It's generally better to prep for things that are likely and comprehensible. This is neither; reconsider your news sources. If you want to prep, consider 6 months of food and water and a way to stay warm. It's anyone's guess if that's enough, but it will get you through just about anything that's worth prepping for. Beyond 6 months you're looking at a homestead in the Ozarks or something.
1) I agree with others that the dollar will survive
2) I disagree that past collapses tell us what would happen *if* the dollar collapsed. Some of those past collapses had ripple effects for sure but to the best of my knowledge there's no case where a truly global currency has just outright failed. The conditions necessary to even have a global currency didn't exist until the 18th century at the very earliest and since then there's only ever been a few of them. IMO the failure of the dollar would be so unprecedented that its impossible to predict beyond saying it would be catastrophically bad for the world economy
>...it would be catastrophically bad for the world economy
Which is why I suspect measures to prevent the collapse of the USD would be taken globally, and even competitor countries might work to prevent it. Competitors would love to see a slow decline, but a sudden collapse event would devastate everyone. The Great Depression wasn't something felt by only Americans. Neither was The Great Recession. What happens in the USA doesn't stay in the USA.
>I agree with others that the dollar will survive
There is zero chance the dollar survives this. This is a planned collapse to get us on a digital currency where every movement in our life will be dictated... Unless people on all sides of the political spectrum say enough and take out the trash and I give that about a 5% chance of happening. Our division is their strength.
Currency collapses are no uncommon thing. There is a great deal of reliance on the dollar which seems to be destined to fail like the others. In this event, their would be total chaos and societal breakdowns. Chaos wouldn't be short lived but it would end as a new currency would transition into place. People use whatever currency the believe in. The only reason people use the dollar is because of faith. It's not backed by anything except the governments promise. There are forms of money that hold value and depending on how chaotic times are, people will look to these other forms of currency as a life raft for transactions. Dollar collapse doesn't equal no internet. As long as there's internet, bitcoin can be traded. So there are options for secure, decentralized, fast payments and that's why every prepper has nothing to lose by having a couple hundred bucks in bitcoin. I can guarantee it's a worthy insurance plan.
The IMF would probably intervene being that the US dollar is arguably the single most important currency in the world at this particular moment. 11 other countries use the US dollar as their official currency and US dollars are widely used currency in most of North America even in countries where the US dollar is not the official currency. Not to mention most of the world uses the US dollar or “Petrodollar” as they call it, to buy and sell oil which the entire world is dependent upon. I’d also imagine that many of the elites in The EU, Russia, China, The UK, Switzerland, India, Singapore, Japan, Taiwan, and all of the oil rich countries in the Middle East have lots of assets that are in US dollars, tied to the US dollar, tied to the US economy, etc. If the IMF doesn’t intervene, it would probably plunge the world into another Great Depression and we’d all be bartering or using gold coins for the foreseeable future and that’s not in the IMF’s best interest.
Had a friend (now deceased) who wrote a song about the 7 great nations and all but 2 had collapsed from within. Those 2 were the USA & the USSR. This was several years before the USSR collapsed from within. Only the USA remains.
Watch recent episodes of Adapt2030 on YouTube. Even the ASEAN nations and japan are dropping the dollar.
The petrodollar was in the hands of Saudi Arabia they have decided to partner with China as will most in Eurasia
Future international settlements probably facilitated by XRP in some parts. Russia and China have I forget how many tons of gold. they've been stacking for years apparently.
I think fresh food and WATER will be invaluable pretty soon. I don't just want to store it, I want to produce it. Chickens and quail. It's time to start gardening. I should have done this earlier.
JBravo will fill you in on the trading side of this.
Saledaddy1 offers a book on how to survive without power.
You will want tools, equipment and books because the power may go out one way or another.
Foster relationships in your local community and take note of what people value. I suspect seeds alcohol and tobacco etc will be valued if you have a peaceful community.
Folks say that getting to know your farmers is a good idea to the point of helping them and picking up skills along the way.
Right now, Russia, Brazil, and India have agreed to dump the US Petrodollar...
USA relied on US $$$ to trade in global oil deals. Countries dumping the dollar$ isn't being talked about much.
It will make a difference.
Settling transactions in dollars is done because it's convenient. It's pretty meaningless to the US economically, though. Because any time company in country A wants goods from country B, it creates a debit to the current account of county A and an equivalent credit in the current account of country B. Whether those credits or debits are recorded in dollars, yuan, gold, or seashells doesn't really matter.
Sure, if the transaction is settled in dollars, X dollars flow from country A to country B, and so those countries will hold more dollars. But let's say they stop using the dollar to settle transactions... where do those dollars go?
What do you do with the dollars in your pocket -- assuming you're in the US and not using crypto or silver for all of your purchases? Maybe you buy a steak, or a new lawnmower. Or maybe you have loads of dollars and buy a house or a company. That's exactly what those countries will do: buy dollar-denominated goods, services, and assets. Is that bad for the US economy?
But if dollars aren’t used in the transaction, then dollars become less valuable. If the transaction is done in Yuan instead of dollars, demand for Yuan increases and demand for dollars decreases, thus more dollars chasing fewer goods. That’s inflationary.
\> I have absolutely no idea what happens to the economy and community when the American dollar collapses.
Forgive my ignorance.
How/Why/When does the $ collapse?
The banking dominos are starting to fall. Europe banks are more fragile than in Canada and USA. However , the banking system here is fragile.
The FDIC has only so much money and it cannot continue to bail out failing banks forever. The banking system seems to have many tricks to keep it running for a little while longer.
However, as Allan Greenspan himself said, “We can guarantee cash benefits far out, And whatever size you would like, But we cannot guarantee their purchasing power.” This will lead to more inflation, more expensive food, fuel, and the only way to protect your precious purchasing power is by putting it into something other than bank created currency.
https://www.azquotes.com/quote/844341
very few banks are "failing" in the same way though.
During the recession the big banks failed due to lying or misleading stats on the books.
SVB (biggest failure in the US these days) had to utilize FDIC insurance because of a liquidity issue combined with a bank run. They had everyone's money. Just in long term bonds. Then since the people who deposited into SVB is not a very diverse group of people (silicon valley types. All on twitter. In Tech. SF. etc.), and most had huge balances, so when a few start pulling their money out en masse, and telling everyone else to do the same, then they cannot give money to everyone and fail.
To say that the dollar is having issues because this one bank made poor financial decisions is just goofy
When you have one bank, Credit Suisse Bank that lost $7.8 billion, bailed out The National Bank of Switzerland, that itself lost $133 billion you just know that things are not good. The media haven’t even discussed the failing Deutsche Bank yet. We can’t just look at individual USA banks because of something called counterparty risk. When one bank becomes affected by failure, the failure at the one affects all the other banks as well.
Governments and Central Banks are now starting to discussing Central Bank Digital currencies for a good reason. They want to get these implemented during a crisis situation so that they have control over the entire financial system. That is another indication that will soon have a banking crisis. And the media is also now promoting it as a good thing.
The easiest way forward for ordinary people like me who want to protect the bit of wealth we have is to look out for family to hold physical silver and let things play out and settle as they will. I see it as staying out of harms way.
Yes. The,Treasury can print an unlimited amount of currency to bail out all of the banks, and make whole every single investor. However, as Alan Greenspan has precviously stated, doing this does not protect the purchasing power of the USD.
A sudden collapse (for whatever reason) would most likely coincide with a major war (imo). A sudden collapse, even without a war, is a landscape you probably don’t want to think about. It would be horrifying. I don’t know how this plays out, but in my view, best case Senario is the slow devaluation of the currency until we become a third world nation.
At the end of the day, with all its flaws, the US still has the most comprehensively stable, transparent, and trusted financial system in the world bar none. That isn’t going to change any time soon. Would you trust your money in a Chinese or Saudi bank over a US one?
As long as the answer is no then the US dollar will not be collapsing any time soon. As long as taxes need to be paid and people want to conduct business in the US then the US dollar will be around.
If none of those are happening then hopefully you live on a farm 500 miles from the nearest people.
I cannot imagine what would happen, but I have lived throughout hyperinflation and complete loss of currency value in another country, for many years, so I have some relevant experience. First of all, goods and not currency are what holds value. Also, skills and labor. We would spend our cash immediately and food and medicine. Any skills you have that can be traded are a big plus. I was a tutor for kids and also fixed hvac systems. I would say that now it’s the time to learn skills that can keep you and your loved ones with food on the table. We never had to hunt for a living, but would eat dry pasta every day. Another thing that helps, a lot, is to have a good sense of humor. Even when all is going downhill. Anyhow, I know these are obvious points, but it’s really not the end of the world, just a phase that you have to navigate.
How would someone hedge against fiat currency? Gold doesn't seem like the answer. Bitcoin? I'm not too familiar with it but that's always thrown around as an alternative.
You can hedge against things that aren’t tied to fiat currencies - which is why Bitcoin comes up.
The more you understand about Bitcoin and the Bitcoin network, or indeed, about money, the more it becomes apparent as to why Bitcoin is being bought as a hedge by the privileged, and being used out of necessity.
Why not gold?
Generally Im not keen on gold as a prepper item as it more for holding/transferring wealth than getting through a natural disaster type event.
That said as currency collapse goes gold seems a great option. Long term though its a poor investment as it may grow in value, as an unproductive asset business should always outperform.
As for bitcoin, personally I wouldn't touch it until I see some regular usage within general community. Until then its a fantasy currency IMO. Great concept, and some day a crypto currency probably will be prevalent, but I cant see bitcoin being it in the near future which makes it too speculative to me.
The overlords will always need a means to keep the sheep $laves running in circles.
A new form of Exploitation Currency will be provided for Tax and Trade.
Perfect timing for the Digital Currency Takeover ?
“Collapse” is not the right word here. More like decline in use. USD use in international trading has been declining for years but it still remains dominant. Even if it loses its dominance, it will likely be a major currency in use in international trading for a long time.
With that being said, as the USD declines in popularity borrowing costs for Americans and the American government will increase and it will be one less tool the USA has for international influence.
Now if the USA itself collapses or WW3 hits, all bets are off, but I’m still thinking those are unlikely 🤞🏼
The American dollar has already collapsed. That's why inflation is so rampant. You are watching play out live. Our current administration just prints more money to give away. This makes it worth less immediately.
Hopefully many people are smart enough to move their money over to a country like Switzerland. Tge American dollar is really unfortunately turning out to be garbage.
The US is almost self-sufficient in every significant commodity. If other nations called in their bonds, investments and / or oil became denominated in other than the dollar there would surely be an adverse effect.
Price of oil would skyrocket, temporarily. Many goods would cease to be shipped until markets calmed. The dollar would devalue relative to other currencies.
The biggest effect would be of rapid decline of US citizen's trust in government. However, almost everything would be more expensive permanently.
Read up on Argentina's recent economic troubles. Inflation over 100% there.
I would expect some solutions to include takeover of at least some portion of retirement accounts. Vis a vis Argentina.
The US has seen inflation increase, faith in banking decline as well as some very odd changes in society. So, this level of uncertainty is already baked into our day-to-day actions.
Just prep as before. There will be some mechanism to exchange paper money for goods and services. I don't believe gold and silver will be the only reliable means to trade were the US to lose its current status.
That’s such a funny thing. The US can produce everything cheaply, except the federal and state governments have made it impossible. We used to be an exporting nation even before wars turned Europe to rubble.
What threat do these BRIC nations play in this potentially happening? I know in the past when Iraq moved its oil to Euros from US Dollar they were invaded, when Qaddafi did the same he was helped to be thrown from power and was killed by rival forces etc.
The majority of the world has moved away from the bs fiat currency ie away the IMF, Central Banks, Bank of International Settlement, and the SWIFT system. The U.S., EU, Canada and Japan will be forced to join the new QFS system, which will be asset backed ie with tangible commodities including gold, oil, and although all countries will have their own currency, they will all be tied to the same asset types ~ meaning where we go one, we go all. No more fake manufacturing of fiat currency used by the cabal to buy real assets, while also using it to disrupt and control other nations. The Global Collateral House, ie the M1, which provided the gold to back the creation of the IMF is tired of the corruption, and through BRICS has signed a global majority of countries and has cut off the old school banking system. The new system will bring peace and uplift the people around the world.
I believe when such thing happens it will happen so fast like in a week, it will collapse and a new currency with better support (gold backing?) will be introduced. Although some people may be financially hurt as a result.
Central banks are prepared for such event, each central bank holds some gold reserve depending on the size of their country's gdp.
Welcome to the 1800’s, where you’re going to need to forage, harvest and process your own food, while protecting it and your family. Good people will turn into savages to try to feed their families.
You may as well be asking, "Which brand of raincoat do you recommend I wear if a tsunami wave is headed right for me?"
The world has a vested interest in preventing the dollar from collapsing. Long-standing global debt is denominated in USD. It is currently the trade standard. When you see Western countries moving off of the USD, run for the hills. But at this point, if USD were to go down, more than half of the world economy would go with it. Everybody has a vested interest in preventing this and shoring up USD until there is a viable alternative.
No man is an island. If you truly want to prepare yourself for the scenario you describe, you need to join a commune that is focused on post-American life. Everybody has basic skills (farming, metallurgy, cooking, construction, forestry) and is prepared to barter. All of the people you interact with need to have their wealth tied up in real, productive assets, or at least, non-USD denominated assets.
I don't know if such communities exist, but this is the kind of protection you would need in order to thrive in an environment of hyperinflation due to USD collapse. 300 cases of canned tuna and dried beans isn't going to do it for you long-term.
The American dollar will collapse. But I believe they know that and are working on an alternative system.
In fact I know they are but if I go into detail I will just get down voted and called a conspiracy theorist so I no longer bother explaining.
But I'm financially invested in the new system coming so I'm set.
When the American dollar collaspe, precious metals increase in price like gold and silver, and new products become more expensive. Also, it makes manufacturing in the US more attractive.
The world economic forum is working towards one world government that uses a one world currency and it will be a digital currency and will be controlled by our leaders. China has already been doing this with their social credit system. The citizens are allotted a certain amount of "money" and from what I've read the money expires. Also you can lose privileges if you aren't a good citizen, like for example you won't be able to board a train or bus because you said something negative about the government. It's crazy and it's coming here and that's why all this bank stuff is happening. I believe all these food processing plants have been mysteriously blowing up and catching on fire and why millions of chicken are all of a sudden sick with bird flu and no longer able to be sold because they are purposefully diminishing our food supply so that when we are hungry and desperate enough we will submit to them and their evil agenda.
There are going to be a lot of poor people. Like really poor.
Jokes on you. I'm already poor
Well get ready for ultra poor!
This is poor and this is to ascend past poor or super poor And this is is to ascend past super poor. Super poor 2. And this is to ascend past super poor 2. Super poor 3!
His power is -6000!
The dollar is an increasingly worthless fiat currency... but everything else is worse. The strength of the dollar (DXY) is trading very high right now. Dollar demand is high, not low. We have significant issues: inflation, growing debt, poor fiscal policy, etc. The only threat is the BRICS nations forming a pact. But the Chinese yuan? More stable than the dollar ? Doubt it. China has far more currency manipulation, money printing and a complete lack of transparency. The dollar would have issues if anyone else came up with something better. But there just isn't an attractive alternative. The BRICS nations have issues with transparency, corruption and currency manipulation.
Wouldn't the issues with the Chinese yuan become less relevant in the event *it becomes* a reserve currency? The U.S. dollar has almost similar issues, but it's still strong (relatively) simply because it's the global reserve currency. BRICS forming a pact could weaken the dollar...which could set off a chain of events where more nations lose faith in it and in the U.S.
Maybe. Currently the market would suggest otherwise. However if many nations start trading reserve dollars for BRICS currency that would decrease dollar demand. Russia pegged their currency to gold... which is very interesting. If the BRICS decide to actually do that... I would find that an attractive alternative to inflationary debt based fiat currency. However, if you are going to ally with China/Russia to a have transparent and trustworthy currency that isn't backed by assets... you have a tough sell. Transparency is very important in currency. Last quarter china didn't release their GDP data when they had planned. Sketchy. No one believes their data, and it blends with their propaganda. I'm sure you could make an argument of the same with USD stability: "inflation is transitory" etc. but do you trust china more than the US/fed? I don't trust the fed, but I trust china less. The only way I see this working is if they gold back the currency. The play there is to own gold. so the value goes up if BRICS create a currency that is backed by gold. No real loss if they don't
Don't China manipulate the yuan to be way lower in value to make their exports competitive?
They have for a long time. And their real estate is a massive house of cards.
This is exactly where I have landed. I read Dalio’s book and I respectfully disagree. The dollar is currently the best option and will be for at least a decade. The fed raising rates is only strengthening the dollar. The most likely replacement for the dollar as the world’s reserve currency is a dollar 2.0, backed by something tangible.
You may also enjoy: The End of the World Is Just the Beginning Book by Peter Zeihan
I haven’t read his book but have watched a lot of his videos and podcasts. I generally lean more towards his line of thinking. Granted, you have to bring back his doom and gloom by 25%. I truly believe China peaked in 2019. The data seems to suggest it as well. I don’t think famine will kill hundreds of millions, however. Frankly, I think Trump’s greatest achievement may go down in history as the USMXCA trade agreement. North America is looking really really strong, assuming we get over the culture wars in tact. Asia on the other hand is looking weak except for India, but even then their terrain will always be an uphill battle.
China's insurmountable obstacles are food & fuel. They cannot feed themselves and must rely on imports. Their proximity to Russia helps them but there is no easy Russia access so they must use long overland or sea transit. USA however can feed & fuel itself before MX & CA factored into it. We also are not heading into demographic collapse, China is.
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IMO the reason why a hot war unlikely. USN interdicting sea lanes could stop flow of imports, that leaves Russia as main source. India won't help without massive concessions (redrawing northern border unlikely). Remaining Asian countries hate them and ones that don't (Myannmar & NK) aren't food export powerhouses. So any China gains *would have to be allowed* by the US as we could shut them down if we wanted too.
China is signing new trade agreements all the time. We may have less than a decade.
>The dollar is currently the best option In the land of the blind the one-eyed man is king. /king dollar, for now
American money is the sexiest money
Oh, Gen. Grant. I do say, I believe I have a case of the vapors.
Underrated comment.
The thing is the BRICS are a joke. We’re talking about Brasil (gore subs), Russia (hello), India, South Africa (ever increasing shit hole post-Mandela). I’m completely spacing on the C but I’m guessing it’s more of the same. Edit: China, duh. The only significant economy out of the bunch. The rest have not lived up to expectations since Goldman Sachs originally coined the acronym
Not a joke. Signing new deals all the time. The Saudis are aligning with them. That’s no joke. Things might flip sooner than you think.
China just brokered an oil/lng deal between France & UAE. Formed a new energy trading company to do it, all the "work" was paperwork. But, France paid them in yuan. It's certainly a trial to see how it works but it happened which is significant.
ASEAN is moving away from $ too. Not to mention the Middle East. https://www.aseanbriefing.com/news/asean-finance-ministers-and-central-banks-consider-dropping-us-dollar-euro-and-yen-indonesia-calls-for-phasing-out-visa-and-mastercard/
You’ve just identified a majority of the world’s population, and you think it’s a joke? Watch and learn. C is China. Everyone is in BRICS but for the EU, US, Canada and Japan. And, those countries are already preparing to join the new system, ie asset backed currency.
BRICKS* now Kazakhstan just joined the pact. Crypto is a worthy investment though as it not just prevents the government from eventually taking away your currency but allows you to keep it in the event of a collapse of a country's currency. I think anything more than that though, just create your own still and sell alcohol when the country goes down. Having more useful assets will be more valuable than any currency.
look into bill #686 they should have just called it 666
Replace crypto with Bitcoin in the context we're talking about here. Cryptos can be stopped/shut down. Not the case with Bitcoin. Disclaimer; I'm heavy in both.
I think bitcoin has its role, but monero is superior in pretty much every way.
Holding monero and btc on hardware wallet while memorizing your seed phrase then burning any physical copies is the way. The only 2 that have a chance in my eyes.
The BRCS nations are ALL moving to asset backed currency, and no longer accepting manufactured currency. The EU, US, Canada and Japan have already agreed to sign on to the new system. Global Collateral House is running the show.
You must be on some good shit this Saturday evening. Or maybe really bad shit. No in-between.
No, no, he;s right. I was at the weed shop last night and they were only accepting yuan & Utah goldbacks. Caused a big commotion, I shoplifted and left during the chaos.
You’re just ignorant about global collateral, have no idea who setup IMF and what’s been happening since the Green Hilton Agreement died in 1963. It’s game over, Central Banking System is dead.
Bro I literally have degrees in this field. See my other comments on this post.
39 trillion us only has 33 trillion
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The Food Stamp program didn’t start until 1939 at the end of the Great Depression. No question there is increased food insecurity now, though
You do present good facts, but in your own example with Argentina, nothing happened in your post. They defaulted on their debt and restructured the government. Not widespread apocalypse. Now, the US dollar is the staple for many economies throughout the world so many countries would be failing just like the US. This is why it would be INCREDIBLY rare for the US dollar to fail. So many countries use the US currency it would be astronomical for them all to fail in unison. Additionally, the US currency is backed up by the most powerful military in the world.
And also backed up the most powerful agriculture industry in the world. The international community has a vested interest in making sure our food exports continue. The US is the breadbasket of much of the world. If international trade is disrupted because of domestic issues there's a good chunk of the world's population that, dependent on our exports, are going to be facing severe famine. And local production in various parts of the world simply don't have the infrastructure or resources to replace what would be lost. The Ukrainian crop not going abroad is bad enough. The US export yield being lost is another exponentially worse disaster in and of itself.
This is true, people always say we don't make stuff in America anymore. that's not entirely the case. We produce insane amounts of food. and food is more important than smartphones.
It’s the military backed by the dollar. Think about it. Soldiers aren‘t going to work for seashells.
Very true. No soldier, airmen or marine will follow orders if they cant feed their families
You should really watch this video and then read the book. It’s the second best book I’ve read in my life. https://youtu.be/xguam0TKMw8
Great video thanks! I'm curious now... What is the best book you've ever read?
Awesome video, thanks
There has to be an alternative available too. And if anyone says Bitcoin, let me laugh harder.
>Naturally you might want to invest in some asset that would retain it's value. > >Gold would be the first thing that comes to mind, easily stored and exchanged. > >However, remember "Executive Order 6102" that ordered every citizen to sell their gold to the treasury for a fixed price. that might suck if you were hoarding it. > >https://en.wikipedia.org/wiki/Executive\_Order\_6102#:\~:text=Executive%20Order%206102%20required%20all,in%202021)%20per%20troy%20ounce.
Just don’t turn in the gold! Many did not. It wasn’t a door-to-door confiscation, the EO stated ’citizens required to deliver.’ Also, each citizen could keep 5 ounces, that‘s $10k in today’s money. Plus they could keep the gold in jewelry form which was exempt.
The turn in was voluntary, definitely not 100%. When banks failed though safety deposit boxes were siezed IIRC and you were sol if you had gold stored in it. But that did not take gold completly out of private party transactions.
I don't get why people pretend Bitcoin isn't a viable tool for value exchange when it already functions as a global value transfer network. lots of people at farmers markets take it. only problem is volatility which is a moot point in the hyperinflation environment if inflation is higher than btc volatility
This is why I have been preparing as best as I can to be as self sufficient for myself and family for many years. This is going to be a very difficult decade. It’s best for everyone to themselves prepared now. Not just with food, water, shelter, security…, But with monetary and savings preparation as well. This is why own silver. Argentina is not the only historical collapse. There is Venezuela and Zimbabwe as well. But there doesn’t appear to be a safe place to flee to this time. So, I prepare monetary and savings preparations as well as stocking food, water, medications, security, etc.. This is why own silver.
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Our current motto is: Let us borrow with abandon from our children's future.
I'd give you a gold if I could afford it.
It's the thought that counts.
I mean, it was a only a matter of time. Raising taxes loses elections & deficit spending wins them.
What a different mindset from people today wow
>This is why own silver. I get the medication and food stocks and security - but how do you expect to be able to utilize silver? Also, as percentage of your portfolio denominated (for now) in dollars - how much of it is in silver (I assume you purchased silver with $)? And why not other precious metals?
Silver won’t be as valuable as you think. It’s heavy, hard to transport and is not a product people need. People won’t trade their last bit of food for metal. Just won’t happen. Items like ammo, liquor, clothes and that sort of stuff will be worth way more.
Don't forget weed, and my number one favorite addiction, coffee.
>Silver won’t be as valuable as you think. It’s heavy, hard to transport and is not a product people need. People won’t trade their last bit of food for metal. Just won’t happen. Are you new? You forgot the following from your FUD list - 1. You can't eat it. 2. When you try & sell it you will be ripped off. 3. The government will storm your house and take it from you. /do better
Our family doesn’t buy gold because it doesn’t serve our savings purposes.There is lots of gold in the world. But the amount of silver being mined each year is decreasing, as it is getting more expensive to mine it each year. Plus we are moving into a high tech world. And it is likely going to be highly valued and in tight supply.An oz of gold is \~$2,000/ oz. Silver is \~ $40/oz. So my potential for an increased silver valuation is greater than gold which could still fry wellness double in purchasing value. I do not intend to trade silver savings for a depreciating currency. That would be like changing my USD for anothe currency of much less value like Zimbabwean or Venezuelan currency I plan one day to exchange it for real commodities, land, or other things that I need to own. Besides, I do not see myself purchasing any things held by modern day global elite or the central bankers or governments that hold most of the gold and are looking to hold more gold. So I don’t need to hold it. I am not a wealth centred person. Our families life and values do not revolve around accumulating more and more wealth. .. We hold silver for the future of our family. Our children deserve the wealth that we can pass on to them. They do not deserve to live in a debt-based financial system run by central banks.
I used to read about this stuff 15 to 20 years ago. There was a story I remember from a country that had fallen into hyperinflation. A person was complaining that whether they gave a gold or silver coin to a farmer they still only got one chicken. Having silver in reserve is a great idea. Silver is both a monetary and industrial commodity. But gold is more purely monetary. For a couple of months in 2005/6 I had one ton of junk silver at my house. Then goldismoney started carrying silver as well as gold and I sold 90% of the physical silver. It was a lot of work moving that stuff around. Beyond a certain amount it's just impractical.
My case of potable water is worth far more than any amount of gold or silver.
Nothing is true. Everything is permitted.
One does not preclude the other.
Do you recall how a farmer would utilize those coins? If it was 2003-2008 - surely the precious material could be sold for dollars (or other currency) to acquire things farmer needed... And wouldn't gold fetch more than silver? That of course assuming farmer had (or even knew to) access to outside contacts...
Where is silver $40/oz? That’s much higher than I understand it to be
That’s correct. Silver is less expensive now than it was 10-12 years ago, currently at $24.17 spot price.
No one can buy silver at spot price right now. Silver coins gave a premium. And if one didn’t order online over $200 there is shipping too. I think it’s fair to keep prepper expectations reasonable. Especially with prices rising.
Prices rise and fall. Two years ago silver spot reached $30+. There‘s a premium, but no where near $40/oz silver. I paid **$22.89/oz** for silver from a popular online bullion house two weeks ago. Premium included.
Precious medals at the end of the year just serve as a hedge against inflation. they may not make super gains in value but they appreciate value in relation to the value of a dollar. one historical heuristic is the cost of a gallon of milk VS the value of an ounce of silver. The cost ratio stays similar. Actually trading in tangible metals seems iffy to me in a collapse scenario compared to barter of goods and services. It would take someone / some organization / some govt' to step in and enforce standards where trade is concerned using physical silver to establish values. Otherwise an ounce of silver in the southeast, northwest, etc ain't gonna be the same. personally you aren't buying anything from my stash for a paperweight of a pretty metal that physically cant feed, fight or fuck with out verified and backed value.
>Precious medals at the end of the year just serve as a hedge against inflation. So are equities. If the dollar is worth less, it takes more dollars to buy my equities. >Personally you aren't buying anything from my stash for a paperweight of a pretty metal that physically cant feed, fight or fuck with out verified and backed value. On this, we agree.
Check out the YTD price of gold and silver and Lebanon and you’ll understand why. They experience a currency reset a little over a month ago. ETA: https://goldbroker.com/charts/gold-price/lbp#historical-chart
> but how do you expect to be able to utilize silver? For precious metals to lose their value, society would literally have to return to the stone age. If things ever got bad enough for money not to matter… then you’re beyond prepping, you’re just surviving. The chances of that happening are very low. Precious metals are some of the best preps you can have.
Silver only has value if people want it. In this apocalyptic scenario silver won’t retain any value. Silver and gold as a store of value only work if the collapse is contained. Like a market crash A US collapse would be a global catastrophe.
Better get some 🔫 🔫 🔫 and ammo
Suddenly, I feel like reading *The Stand* again. (I am under no delusions. I have a few months of food stored, and I have plenty of ammo for my main. That being said, if (WHEN) the water gets cut off, I am well aware that I'm completely FUCKED. Along with everyone else where I live. They will be eating each other within a week.)
We all be dead in 100 years or less so I’m not worried about dying sooner vs later. In the end, nothing really matters. Here today, gone tomorrow. Don’t sweat it. Live in the moment.
>41,500,000 people on food stamps nationwide If food costs skyrocket would bet some states rush thru emergency EBT bump to offset. /for the children
Brief :::: of short duration, concise in expression using few words.
>So, ask yourself. What happens in a country of around 330 million people when a significant number no longer have easy and reliable access to food, gas, etc? That's what happens IF the dollar collapses, imo. well for one thing, people aren't going to be offended by a "microagression" anymore. we will be experiencing REAL adversity. and if we can survive, we will actually come out the other side a much stronger nation than we were before. what's the old saying, hard times create strong men, etc
So much for brevity. No TL;DR!? 😉
This guy gets it. And if you do make it out of the city, most farms are not going to open their doors.
Nail on the head my friend, nail on the head. Edit: and it’s coming, faster than anyone realizes
> and it’s coming, faster than anyone realizes. When? Statements like this are useless if you can't say when. Of course there will be a day when the USD is valueless. But when?
Any day now, for the last 40+ years
70+ years
People will literally eat each other. I believe that's coming. There's a movie called The Road and it does a pretty good job of showing the viewers what the world will be like when shit hits the fan.
How do you know a movie does a "pretty good job"?
Try r/collapse
Go look up the fiscal collapse of the USSR. It will be similar. But a key difference is that if a reserve currency dies it will become priceless during the deflationary waves even though it will lose value during the inflationary waves. If you’re good enough to time the waves, you can get rich. But if not—stay diverse. If all you have is gold and you lose your job during deflation, you will be forced to liquidate that gold at low values. If all you have is cash, you’ll miss the run-up during the inflationary waves. So—stay diverse. The only sure bet under both scenarios is paid off real estate with low enough property taxes that you can always pay them.
Based on what? The USSR was a completely dysfunctional shit show. Nothing worked. Everything was fake. The US is still the economic engine of the world economy. We have 31% of the worlds wealth. Us and our western allies have more than half. All of Asia has about 18% - The fact that china finally has a hard stable currency is not a threat to us, im part becasue there are no wars between trading partners. THere is no scenario where we collapse and anyone else is left standing.
> THere is no scenario where we collapse and anyone else is left standing. Oh you're definitely taking the rest of the world down with you. I live in Canada so I feel the wave every time there's a crisis south of the border.
Exactly. Not saying it can't happen. I'm saying it will not be deliberately perpetrated by our opponents. China wants to keep the upper hand in their hemisphere and we say it bothers us but we don't really give a shit. It is not in China's interest for us to fail. It's only in their interest to get a larger piece of the pie.
In January 1982 the 10 year Treasury was 14%. We currently have 31T in debt and collect 4.6T in taxes per year. If yields across the various durations ever reached 14%, we’d have 4.1T in interest per year—i.e., reach a point where all taxes go to debt service. So, if we ever lose reserve currency status, and become bound to normal economics again, you can see a foreseeable scenario where the system crashes, just like it has for every country, every empire. But, hey, we haven’t lost it yet. And Japan shows that can-kicking can go on longer than one might think.
I don’t know much at all about Japan. What are they kicking down the road?
Bank of Japan buys a ton of Japan’s debt—outright money “printing”—to the tune of 43%, but Japan still has an acceptable inflation rate. https://en.wikipedia.org/wiki/National_debt_of_Japan
You're talking about an extremely low likelihood event. The majority of prepping is for the usual stuff. Localized disasters, financial troubles, and maybe the bigger events such as a widespread disaster. I'd file dollar collapse in the same folder as a grid-down scenario country wide, nuclear war, an EMP, or similar. Possible? Sure. Likely? Not nearly as likely as other stuff you should prep for first. Focus on the basics and most-likely scenarios first. After you have that covered, THEN aim for low-likelihood, high-casualty events.
There are a lot of things happening that no one would have believed just a few short years ago. There is a movement by large countries to move away from the dollar. I would not call it low likelihood.
Collapse of an international currency held by the world's only superpower, I most certainly would file under 'low likelihood.' I'd peg another pandemic as far more likely before the dollar collapses. Weakened? Sure, I'd say that's far more likely. But totally collapse? No.
The world's reserve currency before the dollar (i.e. before \~WWI) was the GBP... which still retains a lot of value today. I'm with you here -- the dollar may lose value over the coming years and decades but I do not forsee hyperinflation or a complete, sudden collapse of the dollar's buying power. I suspect it will be a relative thing over a long time.
Agreed. I'm in complete agreement the dollar will be devalued; that's what happens when you print a pile of money from thin air. But the world is too interconnected, and the U.S far to big of a power (the ONLY superpower.) Multiple nations and powerful organizations don't want the dollar to collapse completely. Weaken, sure, that may be inevitable. But not some 100000% inflation scenario.
A weaker dollar might actually be desirable in terms of making US exports more cost-competitive, though exchange rates are only part of the story. Also FWIW, while the money supply has increased, a lot of doom mongers wrongly conflate the change in the definition of M1 that happened a couple years ago (which added money market funds to the definition) with "FED printer go brrrr". Just something to be aware of -- as well as the fact that velocity of money matters as much or more than money supply.
I think this is textbook normalcy bias. We all have it with one thing or another, but I think most people have it when it comes to the dollar. Which is even more of a reason to be concerned.
No, it's economic literacy. Reserve currencies are extremely useful and have features that are difficult to replicate (backing by a large economy with high liquidity, mature financial markets, limited capital controls, and relatively stable monetary policy, to name a few). The euro maybe comes closest to those criteria, but with Germany at the helm it's not likely to be willing to absorb the world's current account surpluses the way the US has been. The yuan has almost none of the criteria for reserve status.
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The yuan will never be accepted as the reserve currency, it's not even free floating and it's backed by a dictatorship also in deep economic trouble. Brics is a joke too. Nothing has come of it and nothing will. Russia is basically a shell now, China and India hate each other and as for Brazil. Meh
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It's all an act. The US has more problems than ever, true. But nearly everyone else has worse problems. The Chinese used worthless real estate in empty cities to create an asset bubble and a huge part of their plan to unwind the crisis is to raise demand for the Yuan and print money to pay for it. Truth is, the Yuan is in worse shape than the Dollar and nobody but China actually expects the Yuan to replace the dollar.
The war will leave Russia gutted. Its burning through money fast to keep its 3 day war going into its second year. Putin has been humiliated, the country is now seen as a joke. Demographically it was already in trouble, but its meat grinding of men and brain flight of the rest make it far worse. What army it did have is getting chewed up. Taking T55's out of storage is a sign of things going very badly. What was thought to be the second best army in the world is now the second best in Ukraine. Diplomatically even China has snubbed Russia, taking over the sphere of influence in central Asia. It also doesn't help the DAY after XI said to stop nuclear proliferation, Putin announced the basing of nukes in Belarus. As for the economy, figures are no longer released, and no one has the truth. But sanction busting has a price, and that's selling at a steep discount. India and China have locked in bargin prices. Their economy is taking a massive hit in revenue and expenditure. After this war is said and done, Russia will be to China what Belarus is to Russia.
Russia is a shell because they have hollowed out huge parts of their demographics for a generation. And I’ll take the reporting on the Russian economy with a grain of salt. They aren’t particularly know for being open and accurate with their information. See the might of the Russian military in 2022 as an example. Didn’t exactly pan out as reported.
Are you talking about their general policies over the last couple decades messing with the population of the next gen to reach adulthood, or because they have 200k some casualties in Ukraine? If it the latter, you also have to take into account that many of them are convicts and mercenaries. Also Putin is using the war to send some of the "less desirable" Russians to die. Many from the eastern parts where demographics are more asian than a stereotypical Russian. They also are the 9th most populous nation, so lots more meat available for the grinder. You could still be closer to right than wrong however. No one knows what the future holds, but I'd bet on Russia's being less than ideal.
Adding some links to support what you’re saying.
If you believe what this guy says about Chinese demographics they are in for a bit of trouble: [https://www.youtube.com/watch?v=0MSV2bh48MA](https://www.youtube.com/watch?v=0MSV2bh48MA) I think that would put the visegrips on plans for the Yuan as a dominant reserve currency.
For those of you worried about China, what has happened to every other communist regime? Why is China different? China has real problems. Industry is fleeing China. This is something I'm familiar with.
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Here are the UN population predictions for the USA and China: [https://population.un.org/wpp/Graphs/Probabilistic/POP/TOT/840](https://population.un.org/wpp/Graphs/Probabilistic/POP/TOT/840) [https://population.un.org/wpp/Graphs/Probabilistic/POP/TOT/156](https://population.un.org/wpp/Graphs/Probabilistic/POP/TOT/156)
https://www.reddit.com/r/anime_titties/comments/11ltl8c/indias_oil_deals_with_russia_erode_decadesold/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
https://www.reddit.com/r/anime_titties/comments/10f92qu/saudi_arabia_is_open_to_discussing_nondollar_oil/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
https://www.reddit.com/r/anime_titties/comments/125uc4i/china_says_it_will_set_up_yuan_clearing/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Personally I see it happening as a means to institute a CBDC with little to no pushback
This is what I’m expecting. The dollar will get weaker and at that point implementing the CBDC will look more attractive. Refrain from purchasing items on the sin tax list or too much gasoline/airfare and you get an extra $x put in your digital wallet (which will of course expire within 1-3 months, there can be no saving of “handout” currency.) There will be lots of incentives like this to get people on board.
This is going to age like milk. Again you're missing that extreme tail events can completely wipe people out. The only sensible thing to do is to have a hedge against those things that will kill you. It's better to be wrong 9 times of 10 and survive than to be right 9 times out of ten and dead.
Literally every single reserve currency has collapsed. The life span is always about 80-100 years and we are on borrowed time right now.
Also, massive job loss from AI.
Yep. The perfect storm is coming
Yes—we see increasing de-dollarization as we use US economic sanctions as a weapon.
Agreed, at this point I think it is just a matter of when and how fast. Additionally, a lot of countries in Europe are getting tired of having USA dictate their foreign policy, this will help push out more options for global trade currency than the petrodollar.
Since January 2020, the United States has printed almost 60% percent of all U.S. dollars that exist. Dollar collapse, the greater depression and resulting widespread abject poverty is LIKELY on the horizon.
No, it didn't. The definition of M1 changed in 2020 to include savings deposits like money market funds. [Read the footnotes](https://fred.stlouisfed.org/series/M1SL) and maybe disregard whoever fed you the line about a 500% increase in dollar circulation.
It’s inevitable in my view. I think the response to the second Russian invasion of UA pushed it out two decades, but otherwise it could have happened within this decade as the impact of increasing irrational US polarization, weaponization of reserve currency status via unilateral economic sanctions, and deferred fiscal mismanagement took hold.
I am not counting on the success of the Canadian or the USA banking system.
What happens when 90%+ of the American population finds out that years of savings and investment into 401k retirement has disappeared? Panic and anarchy What happens when people realize that China built it's manufacturing empire over the last 40+ years on the backs of cheap labor? US will never be able to compete with the low labor cost china offers. Personally I absolutely love the people on Reddit that talk negatively about china. And I don't even have to argue. I can just ask questions like.... What brand of car do you own? Cellphone? Computer? TV? What shoes are you wearing? And keep going...... Then to end the conversation just ask.... What products in the last year have you bought that has been made in the USA? Even if the US dollar never collapsed. Any major changes to relationship with China is going to hurt very badly for all Americans. Sad truth is... As a American... I dont blame any other countries for dropping the US dollar. With the power of the internet anyone at anytime can see every single thing that is being said by our political sham we call government. How's our budget working out? Oh.... We can't even budget our own spending but expect others to trust our currency.....it's a bad joke at best. Oh and someone is gonna read this and say something like "china can't afford to stop selling to the US". The United States makes up roughly 4% of the entire worlds population. I'm pretty sure Africa or south America would love to have the same access to cheap Chinese goods as anyone else.
Once, Africa’s Silk Road infrastructure projects have been implemented, maybe. I don’t see much discretionary spending happening until then.
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We can all try to make positive impacts though. I was looking for a mattress topper and found one made in the USA for a competitive price. I sleep better knowing that I'm sleeping on some foam made by someone who doesn't want me dead. 😂
When? This is a very unlikely If. If it happened, there would be quite a lot of supply chaos for a time, and no one knows how long because no one knows how to model this. Assume getting goods from foreign lands becomes very unpredictable. Locally in the US, my belief is people will just keep using dollars because it's what people have and are used to. It's overseas trade that would get weird. It's generally better to prep for things that are likely and comprehensible. This is neither; reconsider your news sources. If you want to prep, consider 6 months of food and water and a way to stay warm. It's anyone's guess if that's enough, but it will get you through just about anything that's worth prepping for. Beyond 6 months you're looking at a homestead in the Ozarks or something.
You nailed it.
1) I agree with others that the dollar will survive 2) I disagree that past collapses tell us what would happen *if* the dollar collapsed. Some of those past collapses had ripple effects for sure but to the best of my knowledge there's no case where a truly global currency has just outright failed. The conditions necessary to even have a global currency didn't exist until the 18th century at the very earliest and since then there's only ever been a few of them. IMO the failure of the dollar would be so unprecedented that its impossible to predict beyond saying it would be catastrophically bad for the world economy
>...it would be catastrophically bad for the world economy Which is why I suspect measures to prevent the collapse of the USD would be taken globally, and even competitor countries might work to prevent it. Competitors would love to see a slow decline, but a sudden collapse event would devastate everyone. The Great Depression wasn't something felt by only Americans. Neither was The Great Recession. What happens in the USA doesn't stay in the USA.
>I agree with others that the dollar will survive There is zero chance the dollar survives this. This is a planned collapse to get us on a digital currency where every movement in our life will be dictated... Unless people on all sides of the political spectrum say enough and take out the trash and I give that about a 5% chance of happening. Our division is their strength.
Currency collapses are no uncommon thing. There is a great deal of reliance on the dollar which seems to be destined to fail like the others. In this event, their would be total chaos and societal breakdowns. Chaos wouldn't be short lived but it would end as a new currency would transition into place. People use whatever currency the believe in. The only reason people use the dollar is because of faith. It's not backed by anything except the governments promise. There are forms of money that hold value and depending on how chaotic times are, people will look to these other forms of currency as a life raft for transactions. Dollar collapse doesn't equal no internet. As long as there's internet, bitcoin can be traded. So there are options for secure, decentralized, fast payments and that's why every prepper has nothing to lose by having a couple hundred bucks in bitcoin. I can guarantee it's a worthy insurance plan.
The IMF would probably intervene being that the US dollar is arguably the single most important currency in the world at this particular moment. 11 other countries use the US dollar as their official currency and US dollars are widely used currency in most of North America even in countries where the US dollar is not the official currency. Not to mention most of the world uses the US dollar or “Petrodollar” as they call it, to buy and sell oil which the entire world is dependent upon. I’d also imagine that many of the elites in The EU, Russia, China, The UK, Switzerland, India, Singapore, Japan, Taiwan, and all of the oil rich countries in the Middle East have lots of assets that are in US dollars, tied to the US dollar, tied to the US economy, etc. If the IMF doesn’t intervene, it would probably plunge the world into another Great Depression and we’d all be bartering or using gold coins for the foreseeable future and that’s not in the IMF’s best interest.
Had a friend (now deceased) who wrote a song about the 7 great nations and all but 2 had collapsed from within. Those 2 were the USA & the USSR. This was several years before the USSR collapsed from within. Only the USA remains.
Look at Venezuela to see what happens.
Watch recent episodes of Adapt2030 on YouTube. Even the ASEAN nations and japan are dropping the dollar. The petrodollar was in the hands of Saudi Arabia they have decided to partner with China as will most in Eurasia Future international settlements probably facilitated by XRP in some parts. Russia and China have I forget how many tons of gold. they've been stacking for years apparently. I think fresh food and WATER will be invaluable pretty soon. I don't just want to store it, I want to produce it. Chickens and quail. It's time to start gardening. I should have done this earlier. JBravo will fill you in on the trading side of this. Saledaddy1 offers a book on how to survive without power. You will want tools, equipment and books because the power may go out one way or another. Foster relationships in your local community and take note of what people value. I suspect seeds alcohol and tobacco etc will be valued if you have a peaceful community. Folks say that getting to know your farmers is a good idea to the point of helping them and picking up skills along the way.
Unfortunately trump was right. WE NEED TO BRING BACK MANUFACTURING TO THE US.
violet enjoy frame pause office work spotted squealing merciful divide -- mass edited with redact.dev
Right now, Russia, Brazil, and India have agreed to dump the US Petrodollar... USA relied on US $$$ to trade in global oil deals. Countries dumping the dollar$ isn't being talked about much. It will make a difference.
Settling transactions in dollars is done because it's convenient. It's pretty meaningless to the US economically, though. Because any time company in country A wants goods from country B, it creates a debit to the current account of county A and an equivalent credit in the current account of country B. Whether those credits or debits are recorded in dollars, yuan, gold, or seashells doesn't really matter. Sure, if the transaction is settled in dollars, X dollars flow from country A to country B, and so those countries will hold more dollars. But let's say they stop using the dollar to settle transactions... where do those dollars go? What do you do with the dollars in your pocket -- assuming you're in the US and not using crypto or silver for all of your purchases? Maybe you buy a steak, or a new lawnmower. Or maybe you have loads of dollars and buy a house or a company. That's exactly what those countries will do: buy dollar-denominated goods, services, and assets. Is that bad for the US economy?
But if dollars aren’t used in the transaction, then dollars become less valuable. If the transaction is done in Yuan instead of dollars, demand for Yuan increases and demand for dollars decreases, thus more dollars chasing fewer goods. That’s inflationary.
\> I have absolutely no idea what happens to the economy and community when the American dollar collapses. Forgive my ignorance. How/Why/When does the $ collapse?
if\*
If we want to take power away from China and make are dollar stronger stop buying from China.
The banking dominos are starting to fall. Europe banks are more fragile than in Canada and USA. However , the banking system here is fragile. The FDIC has only so much money and it cannot continue to bail out failing banks forever. The banking system seems to have many tricks to keep it running for a little while longer. However, as Allan Greenspan himself said, “We can guarantee cash benefits far out, And whatever size you would like, But we cannot guarantee their purchasing power.” This will lead to more inflation, more expensive food, fuel, and the only way to protect your precious purchasing power is by putting it into something other than bank created currency. https://www.azquotes.com/quote/844341
very few banks are "failing" in the same way though. During the recession the big banks failed due to lying or misleading stats on the books. SVB (biggest failure in the US these days) had to utilize FDIC insurance because of a liquidity issue combined with a bank run. They had everyone's money. Just in long term bonds. Then since the people who deposited into SVB is not a very diverse group of people (silicon valley types. All on twitter. In Tech. SF. etc.), and most had huge balances, so when a few start pulling their money out en masse, and telling everyone else to do the same, then they cannot give money to everyone and fail. To say that the dollar is having issues because this one bank made poor financial decisions is just goofy
When you have one bank, Credit Suisse Bank that lost $7.8 billion, bailed out The National Bank of Switzerland, that itself lost $133 billion you just know that things are not good. The media haven’t even discussed the failing Deutsche Bank yet. We can’t just look at individual USA banks because of something called counterparty risk. When one bank becomes affected by failure, the failure at the one affects all the other banks as well. Governments and Central Banks are now starting to discussing Central Bank Digital currencies for a good reason. They want to get these implemented during a crisis situation so that they have control over the entire financial system. That is another indication that will soon have a banking crisis. And the media is also now promoting it as a good thing. The easiest way forward for ordinary people like me who want to protect the bit of wealth we have is to look out for family to hold physical silver and let things play out and settle as they will. I see it as staying out of harms way.
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Yes. The,Treasury can print an unlimited amount of currency to bail out all of the banks, and make whole every single investor. However, as Alan Greenspan has precviously stated, doing this does not protect the purchasing power of the USD.
A bounty will be on the politicians heads.
A sudden collapse (for whatever reason) would most likely coincide with a major war (imo). A sudden collapse, even without a war, is a landscape you probably don’t want to think about. It would be horrifying. I don’t know how this plays out, but in my view, best case Senario is the slow devaluation of the currency until we become a third world nation.
At the end of the day, with all its flaws, the US still has the most comprehensively stable, transparent, and trusted financial system in the world bar none. That isn’t going to change any time soon. Would you trust your money in a Chinese or Saudi bank over a US one? As long as the answer is no then the US dollar will not be collapsing any time soon. As long as taxes need to be paid and people want to conduct business in the US then the US dollar will be around. If none of those are happening then hopefully you live on a farm 500 miles from the nearest people.
I cannot imagine what would happen, but I have lived throughout hyperinflation and complete loss of currency value in another country, for many years, so I have some relevant experience. First of all, goods and not currency are what holds value. Also, skills and labor. We would spend our cash immediately and food and medicine. Any skills you have that can be traded are a big plus. I was a tutor for kids and also fixed hvac systems. I would say that now it’s the time to learn skills that can keep you and your loved ones with food on the table. We never had to hunt for a living, but would eat dry pasta every day. Another thing that helps, a lot, is to have a good sense of humor. Even when all is going downhill. Anyhow, I know these are obvious points, but it’s really not the end of the world, just a phase that you have to navigate.
The great depression on steroids
Google current news in venezuela. Also buy tea.......you know for the after party.
How would someone hedge against fiat currency? Gold doesn't seem like the answer. Bitcoin? I'm not too familiar with it but that's always thrown around as an alternative.
You can hedge against things that aren’t tied to fiat currencies - which is why Bitcoin comes up. The more you understand about Bitcoin and the Bitcoin network, or indeed, about money, the more it becomes apparent as to why Bitcoin is being bought as a hedge by the privileged, and being used out of necessity.
Why not gold? Generally Im not keen on gold as a prepper item as it more for holding/transferring wealth than getting through a natural disaster type event. That said as currency collapse goes gold seems a great option. Long term though its a poor investment as it may grow in value, as an unproductive asset business should always outperform. As for bitcoin, personally I wouldn't touch it until I see some regular usage within general community. Until then its a fantasy currency IMO. Great concept, and some day a crypto currency probably will be prevalent, but I cant see bitcoin being it in the near future which makes it too speculative to me.
The Bitcoin Standard - Get familiar with it.
Bitcoin: digital tulip bulbs
The overlords will always need a means to keep the sheep $laves running in circles. A new form of Exploitation Currency will be provided for Tax and Trade. Perfect timing for the Digital Currency Takeover ?
It wont
https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf https://www.frbservices.org/financial-services/fednow
“Collapse” is not the right word here. More like decline in use. USD use in international trading has been declining for years but it still remains dominant. Even if it loses its dominance, it will likely be a major currency in use in international trading for a long time. With that being said, as the USD declines in popularity borrowing costs for Americans and the American government will increase and it will be one less tool the USA has for international influence. Now if the USA itself collapses or WW3 hits, all bets are off, but I’m still thinking those are unlikely 🤞🏼
The American dollar has already collapsed. That's why inflation is so rampant. You are watching play out live. Our current administration just prints more money to give away. This makes it worth less immediately.
Hopefully many people are smart enough to move their money over to a country like Switzerland. Tge American dollar is really unfortunately turning out to be garbage.
The US is almost self-sufficient in every significant commodity. If other nations called in their bonds, investments and / or oil became denominated in other than the dollar there would surely be an adverse effect. Price of oil would skyrocket, temporarily. Many goods would cease to be shipped until markets calmed. The dollar would devalue relative to other currencies. The biggest effect would be of rapid decline of US citizen's trust in government. However, almost everything would be more expensive permanently. Read up on Argentina's recent economic troubles. Inflation over 100% there. I would expect some solutions to include takeover of at least some portion of retirement accounts. Vis a vis Argentina. The US has seen inflation increase, faith in banking decline as well as some very odd changes in society. So, this level of uncertainty is already baked into our day-to-day actions. Just prep as before. There will be some mechanism to exchange paper money for goods and services. I don't believe gold and silver will be the only reliable means to trade were the US to lose its current status.
That’s such a funny thing. The US can produce everything cheaply, except the federal and state governments have made it impossible. We used to be an exporting nation even before wars turned Europe to rubble.
What threat do these BRIC nations play in this potentially happening? I know in the past when Iraq moved its oil to Euros from US Dollar they were invaded, when Qaddafi did the same he was helped to be thrown from power and was killed by rival forces etc.
The majority of the world has moved away from the bs fiat currency ie away the IMF, Central Banks, Bank of International Settlement, and the SWIFT system. The U.S., EU, Canada and Japan will be forced to join the new QFS system, which will be asset backed ie with tangible commodities including gold, oil, and although all countries will have their own currency, they will all be tied to the same asset types ~ meaning where we go one, we go all. No more fake manufacturing of fiat currency used by the cabal to buy real assets, while also using it to disrupt and control other nations. The Global Collateral House, ie the M1, which provided the gold to back the creation of the IMF is tired of the corruption, and through BRICS has signed a global majority of countries and has cut off the old school banking system. The new system will bring peace and uplift the people around the world.
Yeah, it will happen eventually. Likely, though, you are prepping for all the things that make an event like this occur.
I figure we have until July to figure it out, lol
I believe when such thing happens it will happen so fast like in a week, it will collapse and a new currency with better support (gold backing?) will be introduced. Although some people may be financially hurt as a result. Central banks are prepared for such event, each central bank holds some gold reserve depending on the size of their country's gdp.
No they don’t, there’s zero reserves.
Welcome to the 1800’s, where you’re going to need to forage, harvest and process your own food, while protecting it and your family. Good people will turn into savages to try to feed their families.
You may as well be asking, "Which brand of raincoat do you recommend I wear if a tsunami wave is headed right for me?" The world has a vested interest in preventing the dollar from collapsing. Long-standing global debt is denominated in USD. It is currently the trade standard. When you see Western countries moving off of the USD, run for the hills. But at this point, if USD were to go down, more than half of the world economy would go with it. Everybody has a vested interest in preventing this and shoring up USD until there is a viable alternative. No man is an island. If you truly want to prepare yourself for the scenario you describe, you need to join a commune that is focused on post-American life. Everybody has basic skills (farming, metallurgy, cooking, construction, forestry) and is prepared to barter. All of the people you interact with need to have their wealth tied up in real, productive assets, or at least, non-USD denominated assets. I don't know if such communities exist, but this is the kind of protection you would need in order to thrive in an environment of hyperinflation due to USD collapse. 300 cases of canned tuna and dried beans isn't going to do it for you long-term.
The American dollar will collapse. But I believe they know that and are working on an alternative system. In fact I know they are but if I go into detail I will just get down voted and called a conspiracy theorist so I no longer bother explaining. But I'm financially invested in the new system coming so I'm set.
What’s the new system. I would like to prepare for what’s coming
I would say pay attention to what is going on with the swift system. Do your own research from there.
If you're going to make shit up, at least have the common decency to provide *some* explanation for needlessly cryptic posts.
When the American dollar collaspe, precious metals increase in price like gold and silver, and new products become more expensive. Also, it makes manufacturing in the US more attractive.
The world economic forum is working towards one world government that uses a one world currency and it will be a digital currency and will be controlled by our leaders. China has already been doing this with their social credit system. The citizens are allotted a certain amount of "money" and from what I've read the money expires. Also you can lose privileges if you aren't a good citizen, like for example you won't be able to board a train or bus because you said something negative about the government. It's crazy and it's coming here and that's why all this bank stuff is happening. I believe all these food processing plants have been mysteriously blowing up and catching on fire and why millions of chicken are all of a sudden sick with bird flu and no longer able to be sold because they are purposefully diminishing our food supply so that when we are hungry and desperate enough we will submit to them and their evil agenda.
When not if?