Reply to We almost (might have) lost reserve currency status

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
The U.S. dollar's days as a reserve currency were numbered from the moment the Biden Administration weaponized it by seizing Russia's dollar reserves (basically telling Russia "the dollars you have aren't any good anymore until we tell you they're good").

No sane country -- certainly not the powerful countries like China, India, Saudi Arabia, Brazil, etc., would ever count on U.S. dollars being a reserve currency after that move.

This doesn't mean the end, though. A country doesn't need to control the international reserve currency to be wealthy and successful. It's just going to be different from now on. Prepare accordingly.

How?

Buy gold. Buy bitcoin. Consider foreign stocks. Invest in things whose value isn't linked to the U.S. dollar.

Honest question. What does one do with a gold bar?

More common would to be gold bullion coins, issued by the U.S. Mint (e.g., 1 once Gold Eagle). You'd buy it and hold it as a store of value; you could later sell it at a coin shop or online retailer like APMEX for whatever the value is at the time, likely more than today.

The idea is that gold generally holds its value. Today, an American Eagle 1 ounce gold coin is worth about $3,000 (a little more actually). So, to buy a used 2012 Honda Civic today for about $6,000 USD, you'd need the equivalent of two 1 ounce gold coins.

If the dollar rapidly loses value to the point where that 2012 Honda Civic costs $20,000 USD, and if (and it's an "if" because nothing is guaranteed) gold held its current value, gold would be expected to be worth around $10,000 per ounce. But in theory, you could take two gold coins, sell them for $20,000 and then go buy your Civic.

That's what you do with gold -- you hold it as a store of value, and convert it to dollars when you need to spend some of that value.[/quote]

Gold in and of itself is just a mineral that comes out of the ground. Better to buy a mineral like lithium that is actually used in making batteries. Or graphite. Those things can actually be turned into useful products. Gold is just a shiny thing mostly. It was valued for its shininess and "pretty". Those days could end. 
[/quote]

I can take gold to the smallest villages in isolated countries and sell it.
That’s is called valuable tangible asset.[/quote]
You are going to be killed the moment smallest villages in isolated countries get a whiff of you lugging gold coins around when you go there.

[/quote]

Villagers have honor codes.
Give me gold coins here is your camel.[/quote]

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