The dollar will keep devaluing long term, not just because of the inflation and the printer go brrr, but also because the most adequate world economies are giving up on it as the reserve currency. Euro, yuan, even the Russian ruble if you feel adventurous, and of course gold.
Please Xi, press the revalue button. I blew all my life savings on dinar and bailing me out would be good for communism
Forex dudes are always the funniest. "The entire global economy is gonna shit the bed! The solution? Simply invest in a different part of the global economy!
Like most people, I barely make rent when I'm working and am currently unemployed.
What Chinese defense companies can i invest in? because they’re gonna have to keep up defense spending to stop the USA from fucking with them.
All the US has to do to end China is to close the Strait of Malacca. China stops receiving oil from the Middle East, and 2 months later the entire economy shuts down.
Don't be fooled by their current situation: it's a house of cards and only exists because American elites are making a ton of money off trade with China. And ruining the American working class - that's always worthwhile, even if they lose money.
Pretty sure what you want to do is open a margin account in Robinhood so you can get leveraged to the tits and go all in on Tesla puts.
The dollar will keep devaluing long term, not just because of the inflation and the printer go brrr
This is a libertarian's understanding of economics. We're not close to the point where additional government spending would increase inflation, or have a negative impact on the economy of any type.
The problem is that every other country's currency is worse. If anyone wants to mess with the USD there are a dozen aircraft carriers waiting to drop a smart bomb on your place of business. The US doesn't give a shit if it's full of babies, they'll do it anyway.
The USD's strength is that you can use it anywhere, and anyone will gladly accept it. Can that be said of Chinese yuan?
That's a fair point, but it's a lot different than "printing too much money will cause inflation."
When someone says "ABC is happening because of X, Y, and Z," and you disagree with X being a cause, it's pretty common to focus on X. That's all I'm trying to do here.
Put it in your pillow, it osmososes into your brain and develops a grindset
I'll be sure to move the $50 in my savings account over to Euros thanks
You should invest all your money in Hexcoin, my brand new crypto-currency that will probably replace all existing currencies within three years, end climate change and cure cancer. It's based on a Blockchain made of AI-generated struggle sessions and unlike bitcoin it is green as all mining is done with carbon neutral energy generated by green clean organic locally sourced artisanal coal (and a slight amount of baby seal bludgeoning).
No GOOD leftist has any significant savings nor large, valuable assets. GIVE THEM TO ACTIVISTS WHILE YOU LIVE IN A YURT MADE FROM CANVAS
This is what we learned from the Hasan House struggle.
The question is, if you hold foreign currency as an American, how can you hold it that it would retain its value (and thus its only utility) but also be out of reach of the American Gov confiscation when they decide to make it illegal to hold foreign currency for the non-rich?
Thanks to FATCA, Americans outside of HNWs de facto cannot hold assets in foreign banks, and it all has to be reported (banks will enforce this thanks to US' control of the SWIFT system).
If you have foreign currency in an online account with a US institution, a couple clicks by US Gov and it's gone. But you can quickly trade it. But physical currency is no better (though no counterparty risk), since you need to physically exchange it. Americans probably don't even know anything about foreign currencies, and they aren't likely to accept it in place of USD without knowing a real time index of its value (which could be faked or unavailable due to regulation). Foreign currencies, afaik, aren't legal tender in the US.
Better to buy things for immediate survival, food & water, barter items, things that don't require a functional society to be able to function & aid you (ie, bicycle, bike trailer/racks & parts rather than car).
Nah nah what you want is Nigerian nairas, they are cheap af rn so you can buy a lot with USD and when Nigeria's population starts to really start booming they will have a bigger population than the USA. Then you can make good money off this long term investment.
