Lately the discussion of the Dollar's Collapse has come up quite a lot I've Had people reaching out unsure about What to do with their money as they're Afraid the US dollar is about to Collapse in their hard-earned money will Suddenly lose its value and you've Probably been bombarded with the Individuals suggesting now is the time To transition all of your money and Savings into precious metals then They've conveniently provided you with An affiliate link or a coupon code of Course so what's really going on should You be worried are people simply trying To sell you on fear or is there a real Possibility that the US dollar is on the Verge of collapse and we should all be Transitioning out of the dollar to a Safer currency or over to tangible Assets to Shield us from the Dollar's Ultimate demise and more importantly What if anything should you be doing at This time to prepare at the United States dollars indeed on the verge of Collapse in this video I'm going to try To cover all these questions as quickly As possible but before we answer these Questions we need to start by answering The question What is a reserve currency A reserve currency is a foreign currency That is held in significant quantities By central banks or other monetary
Authorities as part of their foreign Exchange reserves now the reserve Currency can be used in international Transactions International investments In all aspects of the global economy in A nutshell this is a foreign currency That's held and used in multiple Nations To transact between other countries due To its recognized stability now since 1944 the world's Reserve currency has Been you guessed it the United States Dollar so why is everyone suddenly Getting worked up about the potential Demise of the dollar what's happening on The world stage that is concerning People well for starters we're seeing China the world's new emerging Superpower make very direct moves to try And up in the Dollar's dominance in Agreements like bricks something we've Covered on the channel before now more Immediate threat the dollar is currently Facing that's not really being discussed As much as it should be is a debt Ceiling at the moment there's talk in Congress that the debt ceiling will not Be raised in this next round now this Threat has happened before multiple Times and each time it was raised but This current Congress is like no other In recent history and we watched all Types of norms shattered when they tried To find a leader of the House of Representatives now if Congress does not
Address this issue when it comes up for A vote it could shake the world's trust In the dollar which would have Incredible ramifications eroding the World's confidence in a dollar so there Are very real threats to Dollars facing And to be fair has the dollar faced Threats in the past yes of course yet it Is still stood the test of time and of Course you may ask so what if it's no Longer the reserve currency what Difference does it make to me if the Dollar is no longer the world's primary Reserve currency well if that happens You would see Mayhem in the markets your Retirement accounts would be decimated You'd see a massive spike in interest Rates to the point that getting a loan Would be all but impossible except for The old you're wealthy and this would Freeze up the markets nations would Really just Bell on the dollar switching Over to the new Reserve currency or at Least the Dollar's vaulted position Would be severely eroded now obviously None of that is good news for the nation Issuing the currency in this case the United States so are we really at a Point in all of this that we should be Concerned that this is going to happen Anytime soon before I answer that a Quick side note I did ask you the Community if you thought the dollar Would lose its position in the next five
Years at the time of recording this Video 53 percent responded that it Absolutely will happen with 33 percent Of you giving it a 50 50 chance of Happening so where do I stand on the Issue This is where if we're all being honest We really begin to fall into speculation I will say that there are a couple of Voices I'm currently listening to and Studying namely Ray dalio uh he's I've Mentioned him before in the past there's A book that I've referenced a few times On the channel recently and he's got a Great video on the subject the changing World Order and the other individual Peter Zion now they really represent Information in various ways and I'll say That they while they differ in where They see things going over the next few Decades specifically in regards to China They do both agree that this will be a Time of great upheaval and change which Is the important point that I'm Currently focusing on the Dollar's Current status will likely not be spared In the process of change while it is a Possibility that the US dollar may still Serve as a reserve currency alongside Another currency and this has happened Before in history I don't and again this Is my speculation from my expected based On what I'm studying I don't see it Losing its complete status as a reserve
Currency anytime soon and the numbers Really bear that out but I could be Wrong and this is not a hill that I'm Going to try to die on or I'm not going To try to argue with you if you have a Different view I'm actively studying This and I can see various paths this Whole situation could take time will Tell instead like you I've come to the Conclusion that it's in my best interest To prepare for kind of a tectonic shift In the coming years that really leads us To the point in this video where we try To answer the question what should I do To prepare for the end of the rule of The dollar as a World's Reserve currency Because if it were to happen over a Short or a long period of time it would Have a profound impact on a song so Here's what I'll do I'm going to openly Share the personal approach that I'm Taking at this time I'm not going to get Into generic Financial advice but Instead I'm going to focus on real Things that you can do and you should be Doing and you may may say well so are You preparing for the demise of the Dollar not exactly I don't tend to focus On one thing as a reason for why I Prepare so for example my personal Preparedness strategy is not really Centered around one threat but rather I Look at this from the perspective of Some things could happen that I'm
Looking at on the horizon and some Things that I'm concerned about may Never happen and as such I've learned to Implement preparing the strategies that Allow me to cover a multitude of threats And when it comes to the demise of the Dollar the same approaches apply for Example I live in an area where we have A lot of earthquakes if and we're always Being warned that the big one's going to Eventually hit and it could take down The grid and our supply chain other Things that we depend on for months so My strategy kind of revolves around the Same principles that I would look at is Say okay what if the dollar were to Erode in its position as a World's Reserve currency a lot of these same Principles could apply which I'm about To lay out and I think going into this Solely focus on just one issue being the Main threat really puts people in a Difficult place if that one thing never Happens and before I share what I'm Doing let me also point out one Important thing you need to watch Closely the people that are yelling the Loudest that the dollar is going to Collapse they also typically have a Product to sell you it's just it's it's Always the same thing you can just wait You can watch and you can listen and You'll you'll see the same recurring Patterns they'll have a link in the
Description or comment section or a Coupon code to a website that sells a Product that will ensure your Investments are safe and this is why You're seeing so many in our community Right now promote precious metals and Trust me they're getting a substantial Kickback preying on people's fears I've Gotten multiple emails in the last six Weeks from various precious metal Companies asking me to promote their Products on my channel some have even Shared how much some of these other Channels have made in the last quarter As a way to try entice me in that you Know like hey if you promote it see what These other guys are making you can make The same and let me say it's a lot of Money that they've kind of dangled in Front of me but I've chosen not to and there's a video That I'll probably do soon going into Specifics on why I don't but let's get Back to the main point here let me share With you what I'm personally doing for This possibility of the dollar being Dethroned along with so many other Threats that we're going to be facing in The coming years what we lay out here Will apply across the board to the Different things that will will happen As we go through this tectonic shift Practical things to do to prepare again You're going to notice that the things
That I'm outlining here they apply to Almost any scenario where you're Preparing for the worst case possible Scenarios to potentially play out and These are the approaches that I'm Currently taking and I've implemented For years and things that I'm even Working on uh as we speak and these Things have paid off in different ways If the worlds I know is about to flip on Its head here's what I would tell anyone To do to begin to prepare again this is The approach that I've been following For years and things that I'm working on Currently these are the practical Approaches and you'll see I purposely Avoid specific Financial advice which I We'll talk about in a moment which kind Of falls into speculation so here we go The first one is take care of yourself Exercise and eat healthy if you lose Your health you've lost everything are You out of shape or overweight find a Diet and exercise and I encourage you There's a gazillion online but just find A plan I know that sounds overly Simplistic but it's the truth your Health it's going to be everything your Ability to work and move and handle Tasks will be tied to your physical Well-being I've shared this on the Channel lately I started last week Preparing for a half marathon I ran Today I had to hit five miles today and
Following a plan that I'm working that I'm working through to be ready for June 4th when I run my half marathon and it Sucks I I did not enjoy today's run uh It was miserable but I had to push Through because I know I need to stay on Track there's a plan on following but Again I have to learn to push myself Because the moment I begin to get Comfortable and get weak uh that sets my Body up for a lot of problems if I'm Forced into a situation where I have to Arise again occasion so take care of Yourself eat healthy and take care of Your physical well-being all right Number two work on self-sufficiency you Need to develop the ability to produce Your own food and energy in the ability To harvest water now I'm currently Investing in building up my growing Space on the side of my house to Increase my food production And I'm actively working on learning new Grow techniques Um I just in in the process right now of Ordering a shed a custom shed through a Company locally and I'm going to be Doing some vertical growing aquaponics Hydroponics uh grow lights I'll have to Make sure I talk to my neighbors and let Them know I'm not growing uh anything uh Any weed or anything like that so I Don't get a knock on the door by the Sheriff but I'm always in trying to
Learn and develop my skills I've got a Solar setup on my house with an off-grid Battery system that would allow us to Power our whole house if the grid went Down and I'm going to be expanding it Out later this summer I've got a rain Harvesting rain harvesting system and I'm going to be working on expanding That outlet filtration and other means To improve it that I'll be sharing on The channel here shortly there are Several projects that I'm working on but The point I'm making with this point Number two is self-sufficiency if things Were to go down utilities go down we Fall into a and I've lived in third World Nations I've shared this on on the Channel before I've a lot of these Things I just mentioned are things that We had to learn how to implement in Other environments so These are things I think that are going To be important for you again practical Steps now number three is educate Yourself about economics and finance you Really need to understand how the global Economy works and staying informed about Financial news and Trends it can really Help you make informed decisions when I Personally got serious about finances I Started Uh by reading various uh books by Robert Kiyosaki this one was I could tell you Stories about this one it really messed
Me up it made me change a lot of My Views in life this is Rich Dad Poor Dad I made some pretty big changes in my Life based on the information I learned And I'm glad I did there's a couple of Other books here cash flow quadrant uh Increase your financial IQ excuse me These are books that I'll link to in the Description section below and it really Helped me understand how money works now Maybe you say well yeah I don't know About that guy I'm a little more Conservative uh this one is financial Piece by Dave Ramsey I've mentioned it Many times on the channel there's a lot Of gurus that are very similar Susie Orman now I know a lot of these people They have you know products and all These uh websites you know where they Sell a gazillion things I don't know From what I've studied from these Individuals they're all material I Really like it a lot I haven't kept up With a lot of them now but the point is They have good solid advice and again It's a plan that's what I like about Dave Ramsey it's a simple plan that if You've Fallen I followed it years ago I Got us out of financial at and to put my Wife and I on a good path financially so Whoever you listen to the point is Educate yourself and here's the Important part in all this is build a Plan and work it work that plan like
Point number one when you know you're Trying to lose weight and get healthy When I'm trying to do this I focus on Proven plans or you know diets or Whatever and I I work I mean because if I'm just up to the point or I leave it To just myself and I say well you know I'll watch what I eat I'll be going Through and just eating everything I Find in the kitchen but if I have a Tracker or some plan that you know makes You Monitor and follow a plan then You're going to look at that thing that You're about to throw in your mouth and Say yeah I can't because I got to lose Weight and finances are really no Different if you don't have a plan You're going to really wander around Aimlessly you're going to waste money And time and those are Commodities that You can't waste especially time you Never get time back so my encouragement To you is if you're listening to this And you say well I have no plan I've Never done anything I've just kind of Winged it and you're trying to get Yourself in a good position financially Find a plan that works for you Number four this kind of ties in similar To number one but a little different is Invest in yourself invest in yourself so What do I mean by that over the years The best thing I've done for myself is To learn new skills to push myself and
Try to really never get comfortable on What I know when I arrive at a point Where I'm like that's good enough I know I'm in a dangerous position because Things change very quickly and the Future is really going to favor those That are adaptable and willing to learn And change there are plenty of websites That you can go to and learn a new skill Obviously YouTube uh when I first I Started the company back in 2006 and I really got serious with it no Seven Is a web development company and at that Time I had no background in it my degree Was microbiology I was an occupational Minister at the time and I was like well Web development really interested me YouTube really didn't have it wasn't Much of a thing back then there wasn't Really a lot of information the only Information I could find is going to the Library or buying books online but That's what I did now we live in a day And age where there's an infinite amount Of uh you know information at your Fingertips so you really have no excuse And I'll give you a website that I would Recommend I have no affiliation with Them I've used them in the past it's Udemy.comy.com it's a very popular Platform it has a subscription model you Pay and you can go in and you can learn Pretty much any subject uh you know
Online and a lot of people I think are Getting to the point where they're Increasingly leaving the normal College Model or not even attending college Because so many people are coming out Racked up with debt that's you know Straddles them for the rest of their Life and a lot of people are now Focusing on marketable skills that will Make them stand out so my point is find Something that works I don't know your Specifics everybody's got a different Unique situation but there's plenty of Ways to educate and invest in yourself All right number five build an emergency Fund building an emergency fund is Always a good Financial practice Regardless of the economic situation When I as I mentioned a second ago when I first started using financial peace my Wife and I we started it when we first Got married around 0506 we got serious With it and you know we put that in Place and ever since then I've always Had some kind of a fund on standby and It's just a safety net it's always been There and we've never had to use it but It's always good to know that if we Needed it's there and having a cash Reserve that you can use if you have to To cover your living expenses for Several months it can provide a safety Net during times of economic uncertainty If you're a loser job you got sick the
Markets crash you'll be glad you have Something like this and it if you never Even have to touch it it's at least that Peace of mind knowing it's there for me That's that was probably the best Purpose that it served for me Number six diversify your source of Income relying solely on just one source Of income it can be risky in times of Economic uncertainty I always have lived By the approach of diversifying my Sources of income I have multiple Streams of revenue from different jobs Different uh you know again I mentioned My web development agency we maintain a Client that we've worked with for years That's one source of Revenue I have the YouTube channel I've done other things That provide some just kind of a trickle Some money every month but it all adds Up it's little things that I've built And that's one of the principles laid Out in Rich Dad Poor Dad it teaches you That mindset of building assets that pay You back Um I again I don't want to go into a Long dissertation on this point and Break out in a lot of specific examples But over the years as I stated I've Learned to build these revenue streams And there are times when one of these Streams I produce Eric created it Produces nothing and next month it may Produce really well in a stream that
Typically does good does you know and so I've seen it they've all kind of held You know some gone up some gone down Over time but there's a good leveling Point that I'm not dependent on One Source that's I think the takeaway here Because when you're tied to just one Source of Revenue one source of income It can really put you in a difficult Position if that gets cut if you lose Your job so that's just one little Principle I've learned that has really Served me well number seven reduce your Debt and liabilities so reducing your Debt and liabilities can really help you Weather economic uncertainties more Effectively having high levels of debt Can become burdensome during economic Downturns as interest rates they can Rise for example if you're carrying a Bounce on your credit card a credit card Company can decide one month you know What we're going to start raising it or Maybe you again as I pointed out have a Job security issue that you know you're In a job and unfortunately a lot of Companies are cutting at the time Recording this video companies that I Thought would have never for example Google has been cutting Facebook some of These companies that are flush with cash They're beginning to make cuts and you Know paying off those High interest Debts such as credit card debts or high
Interest loans and really minimizing Your liabilities such as unnecessary Expenses or liabilities from Investments Can really help you improve your Financial resilience Now does any of these tips sound boring Um where's the product that I'm trying To sell you where's the link to a Precious metal website I did a video Recently mentioning you know preparing For different Financial hardships in the Comments section people are like where's The what we're all waiting for you to Bring up precious metals Again I'll probably do a video on that In the future why I don't promote that There's a lot of reasons but the key in The takeaway without going on a tangent Here is you need to take care of Yourself you need to invest in yourself You need to educate yourself you need to Get to the point that if the dollar Truly does collapse you can still put Food on the table you can Harvest your Own water and produce your own energy if The world around us collapses if Utilities begin to fall apart and again I think that's an extreme situation and I I bring this up because I'm not Personally concerned about these things Happening at us Quickly overnight I'll put it that way Could it happen over time sure but That's why I'm trying to learn these
Skills and I'm trying to develop these Methods so that if something does happen I'll be in a position where I can Weather the storm and again everything That I've laid out are things that I've Done I'm working on and I No I'm not there yet but I'm I'm still Working on these and so I'm just again Being transparent here and I know They're not exciting but they put me in The best position possible if things go Sideways so where's the advice about Stocks 401ks real estate precious metals Cryptocurrencies all these things Um that's where we venture into Speculation when we discuss items that May or may not go up in value or outpace Inflation or survive the demise of the Dollar that's where you move into Speculation and that's I just I don't Really want to get into that on this Channel for various reasons what a Speculation it's really defined as the Forming of a theory or a conjecture Without firm evidence will the stock Market continue on an upward trajectory For the next 5 10 15 20 years maybe Maybe not I mean the market can could Completely collapse we could go into a Recession that goes you know gets worse Than the one that we saw on 08. Over the last 80 years the stock market Has outperformed most Commodities but There's no guarantee that's going to
Happen in the future will real estate Hold its value forever will precious Metals outpace inflation or be of any Value in a failing Market will crypto Beat out the stock market forever and Anyone that can tell you what the firm Answer yes on any of these items is as You can probably imagine probably trying To sell you something now does that mean That I don't hold any of these items no Quite the contrary I invest in all of Them but I realize there's risk with Each which is why I Diversified and I Think there's value in all of them but You need to come to your own conclusion On what you invest in financially what You're comfortable in now obviously you Can hire or meet a financial advisor but They do sell products and they're going To recommend the product that makes the Most commission for them and again There's nothing wrong with investing in Financial products and I do an annual Contribution to a set byra I do this Because there's a lot of tax benefits For my business if the dollar doesn't Collapse or anything does it happen you Know the world doesn't go to hell in a Hand basket in my lifetime then I will Have the financial means to take care of My family and myself but as a prepper The Practical things that I listed out Are the things that if the dollar truly Collapses or any other major event any
Black Swan event or anything that Happens that destroys the world as we Know it I put myself in the best Possible position by developing these Practical things that I laid out the Seven points that I made at the Beginning So how are you preparing for the Potential to collapse of the dollar Again I know this community is very Concerned that this could come soon so Share what you're doing in the comment Section below I'd love to hear it and I'd love to hopefully get insight and to Share it with the community that you can Go down and read what others are doing I'll put links to some resources in the Description and comment section below if You want to follow up more on some Information that I think is practical in Some of the points that we've gone Through to give you context Um at least the things that I'm studying That will hopefully help you as always Stay safe out there
