OK, so we're not exactly kids anymore.
But that doesn't mean we're not kids at heart!
This week, we rounded up some of the Rock Star team to got and let loose at Dave & Busters.
And let me tell you, when a group of Rock Stars gets together we get super competitive and the trash-talking goes wild.
I may be guilty of the most trash-talk, LOL!
But there are several members of the team that get uber-competitive with those basketball games. Each time we go to Dave & Busters, the basketball games draw a crowd of us gathering around to egg each other on.
And we have some straight-up ballers on our team. Soanya, Mark, Nigel, and Mike have serious game!
Dave & Busters is a great distraction from the world right now.
We may be staring at the end of the Petrodollar system.
If you're not familiar with it…our current money system is based on the U.S. dollar being the world's reserve currency.
This came to be when the U.S. negotiated with Saudi Arabia in the 1970s to price and sell their oil for U.S. dollars.
That was the birth of the "petrodollar system".
Because everyone needs oil and the Saudis supply a lot of it...that created a lot of demand for the U.S. dollar and the U.S. dollar denominated bond/debt markets.
This has given the U.S. a lot of power when it comes to financing their own spending.
And here's the thing...
All of this may be changing in front of our eyes right now.
Russia is starting to push back on using U.S. dollars for their oil.
In response to financial sanctions against them over the war in Ukraine, they are asking for Rubles in exchange for their oil instead of dollars.
This may not sound like a big deal, but it's huge.
It could be a tectonic shift in monetary power globally.
We will be watching this closely and sharing our thoughts on it at the May 2022 Your Life. Your Terms. Event!
In the meantime, what does this all mean for us here in Canada?
Likely, that there's no longer going to be one single currency that the entire globe treats as the "biggest and the best".
Over the next 3-5 years we may see other money and other currencies begin to gain in popularity for people's savings.
We discussed exactly this with Lyn Alden last week.
We released her podcast episode and it's blowing away our expectations.
The video has over 25K views on YouTube already. Click here to see it: https://youtu.be/oWba9ixlLd8
Lyn is one of our absolute favourite analysts and she breaks down her thoughts on what's going on in the global economy right now.
Including what will likely happen to currencies around the world as the petrodollar system breaks apart.
It's highly likely that Canadians will join many other parts of the world where citizens regularly hold multiple currencies in their wallets.
For example, in Canada we're very used to carrying around only Canadian dollars for our day-to-day living.
But when we're in other parts of the world we carry U.S. dollars, Croatian Kuna, Euros, and Canadian dollars all the time.
That's a foreign concept for many Canadians.
But perhaps not for much longer.
As the current system loses its power, the currencies likely will too.
And you better believe that we think Bitcoin will make up some (or a large part) of your savings basket.
We get into all of this with Lyn.
Click here to see the YouTube video of this podcast: https://youtu.be/oWba9ixlLd8
Click here to go to our Podcast page with links to Spotify, Apple iTunes, and Google Play for this podcast.
Often you can't see big changes until they're complete...but we believe we're in the middle of it right now.
We'll be covering how this impacts real estate and our financial lives over the next weeks and months.
In the meantime, if you need a break, hit up those basketball games at Dave & Busters, LOL!
We're off to the Bitcoin conference in Miami next week so we'll have some goodies to share from there, we're sure!
Enjoy the rest of the week!
Tom & Nick