Anyone not concerned about the US dollar losing its world reserve status?

[QuarterMillionMan]

Capitalism trending towards socialism, 10 year treasury 1.65%, rising inflation, Feds printing money to infinity, etc. Once China & the rest of the world decide to cash in their treasury notes the ponzi scheme of the USA & the Feds would be devastation the likes we have never seen. Precious metals & cryptos are looking very attractive to me. $10 million looks like a lump of coal to me. I hope we never lose world reserve status but I refuse to bury my head in the sand like an ostrich.

[disneysteve]

Not concerned in the least.

[Fishindude77]

Hardly slept last night worrying about this

[ua_guy]

Nope, not worried.

[scfr]

I do at times feel very mild anxiety about some of the concerns you raise, but they are not new to 2022. Have you ever seen the 1981 movie "Rollover" (I don't remember much --- I saw it in the theater lol --- but it was the first thing I thought of when I read your post)? Have you had the opportunity to speak to people who survived the Great Depression or The Great Inflation of the 70s? Or people from other countries who have survived even worse crises? There have been, and will continue to be, financial crises.

I think that canned foods, some basic survival skills, and close relationships with my neighbors will be more valuable in the event of a total financial meltdown than gold & crypto. And I'm willing to invest a bit of money/time/energy in those things, but will not make them my primary focus in life.

[myrdale]

I am not the least bit concerned about the USD on the world stage.

I am mildly concerned about the long term stability of the USD within this country. Specifically inflation is worth being concerned about. Retiring with $2M in savings doesn't mean much if it cost $500k per year to live.

Ultimately thought I have faith that the USD will fair well.

In the case of the complete collapse of the USD, moving $10M to gold before the fall would be like trying to time the market. And I am assuming this is physical gold you'd have in your house. You'd be talking about 350 pounds of gold. I am not trusting enough in my fellow man to want to keep something like that around. And what do you do when you decide you want to buy flour or rice? Are you going to pay with that with gold coins?

I believe crypto will have a very substantial position in the future, I just don't know what that position will be? Will it be BitCoin or something else?

Also don't forget about the Gold Reserve Act. In 1933 it was made illegal for private citizens to own gold. If the economy were to collapse, who is to say that is safe?

My intuition says to buy land titled in your name, but facing a true collapse, who knows. Ultimately I'd suggest you exercise your 2nd amendment right and defend your God given right to life, liberty, and the pursuit of happiness.

[QuarterMillionMan]

I bought 1 Ethereum today at $3440. Slowly but surely converting my $$$ to cryptos & precious metals in anticipation for loss of the world reserve currency which could be years or decades from now but I don't trust the ponzi scheme Uncle Sam is running.

[myrdale]

To clarify for the concerned party, the original poster is concerned about fall of our country's economy.

Thomas Jefferson's letter to William Smith is worth reading.

"what country can preserve it's liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? let them take arms"

Misguided or not, XXXXXXXXXXXXXX was one of the more contemporary examples of this in action. It's worth remembering we own our government, and we own our economy.