hey everyone welcome to my channel and welcome back to my subscribers this is where we talk about money saving and turning your cash into wealth building assets this is bald guy money i am bald guy so let's talk money in this video i'm going to address the scary topic of the dollar crash what it means for the dollar threats to the dollar and why i don't think the dollar will disappear altogether at least not yet as always none of this is financial advice please make sure to do your own


research before making any financial decisions and don't forget to hit the like button if you like the content and leave me a comment below you can always count on me to read your comments and reply to them so if you want to ask me a question or challenge me or whatever you want to do the comments section is the place to do that and in fact actually this video is based on a request from one of our viewers he threw it in the comments and i'm now responding via video his name is attila a so just want to give a shout out to


him thanks attila for the question on the dollar so let's get into it okay so the topic is the collapse of the dollar many people are extremely concerned about this and there are three reasons that you should be concerned about the dollar collapsing they are number one massive inflation number two weaponization of the dollar and number three new competition to the dollar and these are very legitimate concerns to have but to understand them we have to understand how it is the us dollar became so important as well as what it


replaced to claim the crown of king of all the fiat currencies so in 1944 the us dollar basically replaced the pound sterling as the preferred reserve currency of the world this was done at the bretton woods conference which also established the imf and it's really interesting so i encourage you all to look it up if you're not familiar with it there's lots of info out there but i'm not going to go any any deeper into it so we've established the us dollar is the reserve currency of


the world and i'm going to show some statistics on exactly what that looks like in a second and the united states as a result actually has a major luxury in that it can create purchasing power basically out of thin air by printing more dollars and they've been doing just that take a look here at one of my favorite charts showing the us dollar supply since 1999. you can see that since 1999 the supply of dollars has increased by over 1 600 percent all the way up to now we're touching about 20 trillion dollars


now the dollar's inflation problem is simple put yourselves in the shoes of a central bank outside of the usa you have no choice but to hold large dollar amounts because since 1944 as we established the usa became the reserve currency of the world when they promised they would back the dollar with gold and manage the dollar responsibly now in 1971 the united states abandoned the gold standard and in the last 15 years they've printed more dollars than in the entire history of the country


so that has left many poor countries holding a bag of dollars let's bring up our next graphic that can buy less and less as the usa goes on an international spending spree and i surmise the real damage of money printing is worse than what we see in this fantastic graphic in addition to printing your savings into dust the usa exerts an amazingly large influence over the financial system due to the dollar's reserve currency status this is how they have successfully weaponized the dollar if any country does something against


american interests for example russia or iran the united states can use the dollar to put sanctions against them limiting their their ability to participate in the globa l economy and whether you agree with that or not one thing is true the weaponization of the dollar is leading many countries to seek alternatives to the dollar which brings us to our third point on competition competition to the dollar is on the rise and is going to intensify as countries start to launch their own cbdc's which


are central bank digital currencies that said we are already starting to see the united states grip on reserve currency domination loosening up let's take a look at the data as you can see here the share of u.s dollars held in reserve haven't been this low as low as they are now since 1995 when the german mark was still a major currency and at the bottom of the chart you can see a new entrant into the reserve currency battlefield being the chinese yuan which has major plans to become the


alternative to the us dollar over the next 10 years starting with the launch of its digital yuan which i made a video on so please check it out i'll link it up at the end of this one so where does this leave the us dollar what do i think about the future of the dollar and what am i doing to secure myself for a future where the dollar either doesn't exist or loses its importance so number one the main consequence i see for the us dollar as a result of what we've just discussed is this it will


lose value as its dominance declines just take a look at how the pound sterling has performed versus the dollar since 1971 as it declined in relevance after the 1944 bretton woods agreement but like the pound sterling i don't expect the us dollar to disappear altogether at least not until there is a viable alternative to the fiat system my expectation in the short term is that once countries start to launch their digital currencies the world will divide more along geographic lines using the


dominant currency of its geography here's a graphic of exactly how i think that is going to break down and of course please keep in mind there will be some exceptions based on historic military alliances but i do believe that the americas will prefer to use the us dollar europe will prefer to use the euro africa will use a combination of the euro yuan dollar and bitcoin and asia will begin to lean towards using the digital yuan in fact with organizations like the seo the shanghai cooperation organization led by china


and russia who just added iran to their ranks we are already seeing this being put into motion in the long term the real danger to the us dollar and to the fiat system in general are decentralized digital currencies like bitcoin or even gold backed crypto why do i think this well the imf the organization that was created in 1944 as i mentioned earlier they steer the current international fiat system and they detest bitcoin in fact they are afraid of it they can work with china they can work with europe they can work with the


united states to control global financial markets but they cannot work with bitcoin because it is decentralized nobody controls it they are so afraid of it in fact that they are using every single resource at their disposal to create fear around it and prevent its spread and know this it is spreading despite being invented in 2009 el salvador just became the first country to make it legal tender and this trend is only going to continue until either the entire fiat system collapses which could happen in our lifetime or


bitcoin is outlawed mirroring attacks on gold which happened in the 20th century now this is the part of the video where i tell you what i am doing to protect myself for the day the fiat system's house of cards comes tumbling down and i am not going all in on bitcoin i always talk about diversification i don't go all in on anything as i say at the start of all my videos this is where we talk about converting your cash into wealth building assets and what i am converting my cash into uh in the context of this situation are the


three following things number one bitcoin number two gold and silver number three land this is my message this is why i created this channel the dollar won't last forever and it is decreasing in value land is forever property is forever gold has been used for as money for thousands of years and now bitcoin just may be the digital version of that and me personally i'm not going to get stuck holding a bag of dollars waiting for the day people finally agree the fiat currencies aren't worth a darn


thing i exchange it now for things that i think will always be worth something thank you so much for watching and thanks again to all my subscribers links to my data sources in the description as always please leave a comment or a question below as i mentioned before i will respond to it don't forget to subscribe drop a like if you enjoyed the video and as always i wish you all happiness i wish you all success i really hope to see you in the next video