The dollar isn’t just a form of currency. It is (still now, even) the official standard of currency on an international level. Every other country tends to see its currency weighed against the dollar as its goalpost for its currency performance.

Even when we’re not talking ab

out the standard of foreign exchange, dollars aren’t just dollars. American dollars have become a cultural symbol around the world. Almost everyone knows what an American dollar looks like, even if they don’t live abroad.

In recent decades, the dollar also started to become a symbol of capitalism, American greed, and yet at the same time, the dream of becoming wealthy. Dollars are featured in movies, music videos, modern sayings and the works.

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It’s no secret that the dollar has been plummeting in value in recent months. Our government has become increasingly unstable, our country’s economic policies have started to hurt our greatest allies, and world politicians are divesting from American businesses.

So, where are people going for their business and commerce? Where will be the next bastion of great investments? The most prominent country that people are turning to is, quite obviously, China.

Students once headed to Harvard are going to Chinese universities. Argentina is enjoying the benefits of orders for soybeans, while American farmers (having burned their bridges with China) are going bankrupt while holding billions of soybeans in their hands.

Every single contract that vanishes from the US is another cut to the dollar’s value. America is becoming the country version of the cool kid who’s quickly turning persona non grata after being caught bullying a kid in a wheelchair.

No matter how you look at it, that’s not a good thing for the average American.

China has been snapping up gold at record levels. In fact, the price of gold is now a jaw-dropping, eye-popping $4,000 per ounce. Historically speaking, this tends to mean one thing: people are losing their faith in their country’s currency. 

The spike in gold prices happen whenever interest rates are cut or when hyperinflation is expected to occur. Right now, inflation rates look like they’re ready to explode. 

With that said, it’s worth pointing out that gold rates spiking this way also historically portend a massive market crash. However, there’s a big difference in what is currently driving much of the buy-ups.

Unlike years past, it’s not America driving up the gold rush. China’s buying eye-watering levels of gold because it’s trying to divest from the US dollar.

Well, we’re watching the pot of global finance boiling to the point of the entire system breaking. As mere mortals, we can’t do much aside from join local activist groups to try to alleviate the pressure. 

 It’s hard to tell whether buying gold is the right move for every individual right now. Much of what seems right is to hang on to what gold you bought before and wait for the crash to happen.

However, I’m not a financial advisor and I can’t make that call. Every single person needs to call a professional or just use their own senses to guide themselves on their financial journey.

What I can say is that gold can crash in value — but so can every asset. Remember the crypto crash, back in the day? That can happen to gold, too.

Americans have also started to buy gold, but maybe not for the same reason. When you’re worried about currency value, it makes sense to try to find another way to get your finances stable. Gold is the original global currency. 

When fiat doesn’t work, gold will because there isn’t a person on this planet that doesn’t understand gold’s value. The resell value will likely remain high even when the value of the actual fiat has crashed or bloated. 

I know that many people might want to buy physical gold because it is easy to carry and sell if they want to leave America. This was common advice given to people during the reign of Ceasusescu. 

There are also America-specific reasons to keep physical gold. 

If you get arrested, they can confiscate cash, but they can’t confiscate jewelry. This is actually why pimps wore so much gold jewelry — it was a quick way to raise money from pawn shops while they were in jail.

Pessimistic as I may be, I feel like the jewelry law might get overturned. The way we’re headed feels like the government will do whatever it can to make us all broke.

As far as the US dollar goes, I think we’ve seen how high the dollar can go. America broke itself and I don’t think we’re ever going to get back to the strength of the dollar that we saw from the 60s to the early 2000s. That was it. 

Right now, China is gearing up to be the next superpower. They’re the country that has the manufacturing, they’re the country that has a functional governmet, and they’re now the ones people turn to for global help. 

Sooner rather than later, China is going to end up being the standard for almost everything. Whether or not America can ever recover what it did to itself, though, remains to be seen.

As for me? I’ll try to invest in myself and keep up my Mandarin lessons.