You can't look at one nation's currency in isolation.
Since other nations are simultaneously loosening in a competitive devaluation, buying foreign currencies and equities won't necessarily protect you.
I've yet to see a step by step explanation of how the dollar is supposed to crash. While there are many hyperbolic and hand-wavy theories getting passed around, none that I've seen acknowledge the role of other nations or of second-order effects.
I agree it's prudent to own some gold and Bitcoin in case the bottom falls out, but the probability of hyperinflation seems pretty low to me even if the Federal Reserve prints a few trillion dollars during a crisis.
See, this assumes that free trade is the norm and autarky isn’t. We are all supposedly interdependent it is said, but it could very easily become a scenario where everyone closes their economies.
Heck, they’re already doing that now with COVID-19. Then there’s no need for the dollar as a reserve currency. Not saying this will happen but it is a possibility. The real test is if Trump will impose tariffs on foreign oil. Other countries may retaliate on other goods and it quickly spirals from free trade to autarky.
Since other nations are simultaneously loosening in a competitive devaluation, buying foreign currencies and equities won't necessarily protect you.
I've yet to see a step by step explanation of how the dollar is supposed to crash. While there are many hyperbolic and hand-wavy theories getting passed around, none that I've seen acknowledge the role of other nations or of second-order effects.
I agree it's prudent to own some gold and Bitcoin in case the bottom falls out, but the probability of hyperinflation seems pretty low to me even if the Federal Reserve prints a few trillion dollars during a crisis.