It's only a matter of time before other countries start dumping their foreign reserves and they ($$) come flooding back to mainland USA. And when that happens, the dollar index (and corresponding value of the dollar) will plummet. Will it get so bad that you won't be able to exchange dollars for local currency when you travel overseas? Only time will tell, but things are bound to get a lot more expensive. I've heard estimates that when the US loses reserve currency status (in favor of SDRs is the latest popular theory), the USA's standard of living will drop by 20-30%. Time will tell how this plays out, but until then, get prepared!
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Would you be kind enough to point to where you heard those estimates of US standard of living?
Thanks!
Investor Sam Zell estimates a 25% drop in the following article:
https://www.cnbc.com/id/41887217
I may have also heard similar estimates from Mike Maloney and Rick Rule, but it's been a few years.