Fiat currencies collapsing left and right.
The Federal Reserve has been increasing interest rates for quite a while now, all to curve inflation. Mind you, that inflation was caused by themselves when together with the US government they decided to give big bonuses to citizens in the form of stimulus checks, and big PPP loans to companies that even didn't need them but since it was free money companies with the knowhow to work the banking system got that money fast. The PPP loans were meant to be for small companies to help them raise cash during the pandemic, which was another government force thing upon the population.
Here we are now months after the money printer went brrr, and now we have the same people who inflated the money supply trying to deflate that same money supply. If only the united states central bank increases rates and the other central banks from other countries don't, money will leave those currencies and move into the dollar because private investors think that the dollar will be able to conserve its purchasing value against the other fiat currencies.
Those fiat currencies from central banks that don't increase interest rates will depreciate against the dollar, and those countries will have very few options, one increase rates as or to the same rate the US does, or start selling their dollars reserve to try to stabilize their fiat currencies. If countries do this it will affect the United States economy because the dollar will weaken compared to the other fiat currencies.
At some point, the Federal Reserve will have a hot potato in its hands because it will try to tame inflation but as other countries sell the dollar the US economy will collapse as well to the point that is too painful for citizens. Other nations may decide to reduce interest to try to fight the fed and pop up their economies as well. It is a mess and it won't be pretty. We don't have a crystal ball to see what the economic future will bring but you could use what you know to try to preserve your economy.
If you hold a jog, keep on working and saving your local fiat currency until it becomes worthless, you must pay for your food so you better have some fiat for that purpose. Money that you may have after paying bills should be invested into assets that the banks can't print, and be as much frugal as you can to try to spend less money and prevent yourself from going broke.
The banks are on the mission of making you poor by making sure they manipulate the job market and asset markets so that they force you to sell or lose whatever assets you may have. Ignore whatever they say and keep on working your regular jog and saving money to pay for your real-life needs like water, food, and shelter.
With inflation and later deflation is how the banks are seeking to make you poor and take your property from you whenever that property is land, houses, cars, cash, or any other asset you may have the plan is to make you spend your assets so that you have no assets left and you have to start all over again. Don't let them do that to you by one knowing how they do it, and two conserving your financial energy.
If you can meet your essential needs with your savings or your job income and you don't have to sell any of your assets you will make their plans a worthless effort and eventually they will have to go to printing again and popping up assets again because they will not collapse everything so that they become poor themselves, and so soon enough you will hear they are easing interest again.
At some point in the future people will understand what banks do and they will not use fiat currencies any longer and that is when cryptocurrencies may take over the world I don't which one will be but the one that works as cash does today could be a good contender to fill that position once central banks fail.