Is the US Dollar Collapsing? by@AR

Is the US Dollar Collapsing?

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Crypto Fireside

🔥Crypto Fireside — Interviews with crypto people.

Some people are sure of it.

As part of my work on Crypto Fireside, I speak to smart people regularly. And what I can tell you from my discussions with them is the following: you should be preparing for the worst-case scenario, right now.

You see the USD is a special currency. It is the world reserve currency; meaning most international settlements happen in US dollars. It also has another name that adds to its special status. The petrodollar. Why? All major oil exporters are paid in US dollars.

Money wars are happening.

When there is a situation like the one happening in Ukraine right now. This upsets that global order. Putin announced a gas currency switch for ‘unfriendly countries’, meaning he wants Roubles instead of US dollars or Euros.

This is on top of the world situation right now where we have high unemployment rates across the board and a top-heavy economic climate where many small businesses were forced into collapse due to Covid measures and yet companies like Amazon, Google, Apple and others saw some of their biggest gains. Disgusting.

US Inflation Rate is at 7.87%, compared to 7.48% last month and 1.68% last year. In Australia, inflation grew by 3.8%, compared with just 1.7% for wages in 2021.

The reality is that fuel prices are through the roof, household grocery prices are through the roof and there is no end in sight. And all the man on TV can do is blame Putin, bloody Putin!

The worst-case scenario means food shortages, power outages, hyperinflation and the potential collapse of the world reserve currency which guarantees more of the same.

Basically, a situation where the money in your bank account cannot be used to buy food, fuel your car, or turn the lights on. This is not unrealistic. Even if you can afford those things, there might not be any food left to buy, there may not be fuel available for your car and there might not be energy available to turn the lights on, power the refrigerator or keep you and your family warm.

This is not a sensational piece to try to extract some kind of emotional response from you. This is real. I don't care if you believe me or not. I’m not even trying to make the case. I am simply sharing what I have learnt and asking the question. Is it happening? Is it even possible?

Well, it is definitely possible. We’ve seen that before. Ray Dalio, who certainly has his critics has some thoughts on it that he’s put into a book and then distilled some of that info into this video.

But is it happening? Well, let's look around.

President Poopy Pants, I mean, Biden is saying it's ‘going to be real’ when talking about food shortages.

Here is Klaus ‘ you will eat ze bugs’ Schwab saying global food and energy systems will be affected.

Rob Kapito from BlackRock says entitled generations are going to be hit with shortages for the first time.

Now if you are thinking, but hang on Andrei, they are not saying the USD is collapsing they are just saying get prepared for no food.

Did you really think that? Smack yourself on the back of the head for me.

To be clear, no one really knows what is happening and how long it's going to last. But one thing is for certain. The US dollar is experiencing big problems at the exact same time we’re all facing some issues of our own like you know, maybe not being able to feed our kids.

If this is true, what's the answer?

I have no clue. I can speculate. Guess.

The only things that have held value over long periods of time are precious metals such as gold and silver and you could also argue, land and real estate.

The issue with land and real estate is that they aren’t exactly liquid. You can’t just go, knock a couple of bricks out of the wall and exchange them for a loaf of bread, nor would you want to. And if times are uncertain and you have armed men rolling through the streets like they are in Ukraine right now, that isn’t exactly a solid investment.

So apart from things like gold and silver, my answer is food, fuel, water and medicine. That seems obvious and a little weird to say if I’m being honest.

What about crypto? What about Bitcoin?

Crypto has not passed the time test. Obviously, I am bullish on crypto in a general sense. This is Crypto Fireside after all. But let's be honest, we’ve never been in a situation like this before. One where the global reserve currency is under pressure, there's war in Europe, China is rising big-time, information is free and accessible and we now have digital, cryptographically secured, decentralised, non-nationalised currencies. We’re not in Kansas anymore.

Personally, I am holding crypto, getting back into precious metals but I'm also storing food, water, medicine and preparing for the worst.

That doesn’t mean I am a negative Nancy. I am positive we will eventually come through all this. But there is a bumpy road ahead. That is not even debatable at this point. I’m sorry you had to hear it from me instead of the man on the TV. If you haven't worked out by now, the man on the TV doesn’t necessarily always tell you the truth.

But tell me what you think in the comments.

Cheers,

Andrei R

How to show your support?

Consider buying me a beer or coffee with Crypto — Options below.

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Bitcoin BTC: bc1qkckgslfczefjw9fvg7c2lmpgk9g5q9pyqk4nmy

Monero XMR: 4B23PZr53mYGNXzLvNXh5mcSQ5ABwi2RaEc2jfZLwj3vKgrQ7TmjsGNLoeKTnseUZUbeucpv3bihuYWLS1DtQnsvVWxFjtH

Bincance BNB: bnb10lxgm4k34aqgsqyxjrf80de9yupm3n9fd0rr9z

Cardano ADA: addr1qy7rusmc3l03mnds6mhv7v0c6qh3hqgcwwhqqgn7r0e0pufu8eph3r7lrhxmp4hweucl35p0rwq3suawqq38uxlj7rcs5574fv

Andrei R, 🔥Crypto Fireside

P.S. This is not financial advice, DYOR.
P.P.S My vested financial interests in Crypto? I own FIRO and that is all :)

This story was originally published here.

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