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could we be standing on the edge of a financial apocalypse Charlie Munger the billionaire investor and right-hand man to Warren Buffett thinks so he's predicting a major recession and warns that the US dollar itself could collapse what because of rampant money Printing and inflation but what is this mean for you and how can you prepare before it's too late let's dive into munger's chilling prediction and his advice for surviving the coming storm hey everyone welcome back to the channel if you're new here I'm your guide on achiving your financial goals and today we're talking about something big Charlie Munger one of the greatest Financial minds of our time believes that the current Financial system is in serious trouble he's predicting a major recession and even a potential collapse of the US dollar sounds terrifying right well don't worry in today's video will break down monger's warning and more importantly what you can do to protect your hard-earned money so stick around because this could be the most important Financial advice you'll hear this year eony sometimes booms and sometimes it doesn't and you have to live your life through both episodes and our attitude is we just keep swimming and sometimes the tide is with us and sometimes against and but we keep swimming either way are you surprised by how long this expansion has lasted of course it's lasted a long time but what was really remarkable is we never printed money so much and spent it so fast and bought back so much debt public and private so this is total Terra incognit in economics and and nobody knew for sure how it was going to work so is it risky then of course it was risky but it worked and I don't think they had much else they that would work they weren't set up to do stimulus too much controversy Democratic inous the VAR so they had to do something and all they had left was just to print money and start buying things and that's what they did and it turned out to be a very wise response and what's even more remarkable is that both Congress and the presidency and are both parties made the same decision they all cooperated it was the last time but where is that going to leave us ultimately well it left us licking the Great Recession so maybe we want to try cooperation again since it worked so well once let's start with munger's first major point the US Financial system is unsustainable but what according to Munger one of the main culprits is the government's aggressive money printing think of it like this when more dollars are created out of thin air it doesn't increase the wealth in the economy it just spreads that wealth more thinly across each dollar that's already in circulation this leads to inflation where the prices of everyday goods and services go up and the purchasing power of your money goes down here's the problem inflation erodes the the value of every dollar in your wallet that $100 you have today in an inflationary environment it might only buy you $80 worth of goods in a year or two and the more money the government prints the worse it gets it's like trying to fill a swimming pool with a leaky bucket no matter how much water or in this case money you pour in the value is constantly leaking out making it impossible to keep up but it's not just about higher prices inflation can spiral out of control if left unchecked imagine a scenario where the value of the dollar plummets so fast that people lose faith in the currency itself that's what Munger is warning us about the potential collapse of the US dollar as the world's Reserve currency if that happens it could cause chaos in global markets and the ripple effect would impact everything from trade to Investments and it's not a far-fetched idea history is full of examples where hyperinflation has led to economic collapse just look at Zimbabwe in the 2000s or Venezuela more recently their governments printed massive amounts of money and for long their currencies were worth almost nothing Munger believes that if the US keeps printing money like there's no tomorrow we could face a similar Fate In fact the US has printed more than 40% of all dollars in existence just in the last couple of years think about that for a second more money in circulation means the value of each dollar drops Munger believes this is a recipe for disaster and he's not alone many economists share his concerns but inflation isn't just about higher prices at the grocery store it's much bigger than that it affects everything from the value of your savings to the cost of housing so how does this tie into the collapse of the dollar Munger says that if we continue down this path the US dollar could lose its status as the world's Reserve currency and when that happens the whole Global Financial system could unravel another Trend that Munger sees as dangerous is the rise of passive investing you've probably heard of index funds right they've become incredibly popular in recent years but Munger warns that too much passive investing can distort the market here's why when people invest passively they're buying stocks without considering the true value of the companies this can create bubbles where stock prices don't reflect reality and we all know what happens to Bubbles they eventually pop Munger believes that passive investing is fueling the next big bubble and when it bursts it could lead to even more instability in the financial markets so what can you do to protect yourself from all this Munger has some advice and it's all about investing smart first and foremost he recommends putting your money into highquality assets companies with strong fundamentals that are consistently profitable these aren't the trendy tech stocks that shoot up overnight they're the companies that provide essential goods and services things people rely on no matter what's happening in the economy think about it no matter how tough the economy gets people still need electricity health care and food these types of businesses tend to be more resilient during economic downturns because they offer products and services that are ESS essential to Everyday Life by investing in companies that are built to withstand economic turbulence you're safeguarding your portfolio from the worst effects of inflation and Market crashes he also suggests investing in assets that tend to hold their value during inflation such as real estate or even Commodities like gold but here's the key whatever you do make sure your Investments are Diversified don't put all your eggs in one basket and finally Munger emphasizes having a long-term perspective this isn't about getting rich quick it's about weathering the storm and coming out stronger on the other side the markets May crash but over time they recover and the patient investor reaps the rewards now I want to hear from you do you think Charlie Munger is right is the US dollar heading for collapse or will the economy bounce back stronger than ever let me know your thoughts in the comments below and while you're down there don't forget to hit the like button if you're finding this video helpful so far every like helps more people find this video and it really supports the channel e
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