WHAT IF THE DOLLAR FAILS?

Question

I listen to a lot of Robert Kiyosaki, and a lot of guests that appears on his show predicts the dollar to fail. In the scenario was to play out I have a lot of questions.

1. What currency will take place of the dollar?

I hear a lot of talk about cryptocurrencies being the US Dollar's replacement. I also have a strong urge to refrain to invest in crypto due to the fact that crypto is not a REAL Tangible asset. I understand the hype of the idea of a decentralized currency and the value people associate with such, but the idea of any digital asset simply doesn't provide a feeling of security or hedge against the dollar.

2. Whatever currency was to succeed the dollar, how would the general public go about daily trade for necessity such as housing, food, etc.?

Being that most Americans do not operate or make decisions from an investment standpoint, leading me to believe they will not plan or properly position oneself in an economy that experience hyperinflation of a sole and primary currency that leads to adoption of a new or secondary currency. As an investor in such economy where success is based on consumer sales, how are these transactions settled.

ex. An Investor purchases a house. A tenant rents the house. The Investor collects income and pays off financial obligations associated to said house (Mortgage, Taxes).

In the event of change of currency, how does an investors maintain ownership of property if tenant doesn't have crypto to transact for a place to stay. The investor doesn't receive crypto to transact property taxes due to government.

3. If the dollar was to fail would the investments you make today remain sound in an uncertain future?

Xavier Pinkett · Answer

Account Closed thanks for the input. I have really struggled with the idea of crypto and haven’t gained the confidence to invest in crypto based on the very facts you have stated. Your opinions have encouraged me to believe that I am thinking of this in the right light. Thank you!

@Nick C. I haven’t even considered the thought of crypto to be more unstable than the dollar, and now that you have introduced such possibility, i believe that may be more probable, aligning with my previous doubts of crypto. Thank you!

Nick C. · Answer

Every crypto currency has a better chance of failing than the dollar. Their values are based on hype and tweets from Elon Musk and other celebrities. Bitcoin could go up to $100k/coin or could go down to $0. Who knows.

Remember Kiyosaki's goal with these predictions - sell books and stay relevant. If the dollar fails and we live in anarchy, crypto currency won't help you without electricity and the internet; you'll be better off with guns, bullets, food, and water.

Account Closed · Answer

I believe in fairies, flying unicorns farting rainbows and crypto currency. To me they are all on the same playing field.

Crypto is "fools gold". Here's why . . .

1. You can't buy bread with it

2. You don't know which Crypto will prevail

3. Your every move will be tracked by the Government. They will control, track, tax every transaction and they will arbitrarily set value for the crypto.

4. If you lose your disk drive, & disk drives do fail, you lose your Crypto. You can't access it. It's gone. Like the smuck who has $2,000,000 in Crypto on a drive he accidently threw away. He spent days dumpster diving at the dump and couldn't find it.

5. You will see phones & computers being stolen in numbers you never imagined - someone was able to hack BitCoin the "unhackable" and got something like $200,000,000 - not bad for a days hacking

CRYPTO HEIST

Bitcoin & Ethereum exchange Bitmart hacked for $200MILLION in Floki, BabyDoge and other tokens amid crypto crash

https://www.the-sun.com/money/...

6. It can fall to Zero - at least gold or silver can be sold for industrial or jewelry prices

7. If the internet goes down you starve. There is no value if the community gets cut off from each other. A government could disrupt the community at any time they wish.

8. If there are power outages, you don't have access when you most need it, during natural (or contrived) emergencies.