For those not quite in the loop as to ongoing economic irregularities in the world, watching the news and reading articles on the internet might be a good place to start, and furthermore continue to stay informed with a view to preserving value in one's net worth.
As governments go, deficit spending in order to remain popular with the electorate unfortunately increasingly erodes away value in the fiat currency distributed by the central bank of that particular nation. In the U.S., for instance, that the Federal Reserve writes a check to the U.S. Treasury based upon a zero account balance in order to purchase U.S. Treasury bonds effectively creates fiat currency out of thin air, albeit "fiat" suggests being backed by the full faith and credit of the U.S. government. Amplify this zero-balance check-writing gimmick by a multitude of fiat currencies in numerous nations and one can well see the mushrooming of a colossal financial disaster the likes of which the world has never seen.
Would the financial world need to form another reserve currency less prone to the whims of national governments for the sake of maintaining value and stability as best possible? It would appear so, and quickly, either in anticipation of such a worldwide fiat currency collapse or very soon after the start of such a debacle.
The alternative would more than likely be a form of barter that would ensue, but this might stifle the liquidity of current trading norms, let alone devastate any kind of electronic financial record-keeping and transactions hitherto prevalent in the banking sector.
The important question to ask oneself, however, is whether one is financially prepared to the extent that one is shielded from such a monstrous wealth transfer as national debts are floated away by excessive fiat currency printing which would cause horrendous hyperinflation and effectively gouge away most of the value in one's life savings and pension accounts. The role of hard assets comes into play in a big way here and should be taken very seriously by all and sundry.
The goal is to preserve value, and the strategy is to switch from fiat currency to hard assets leaving some two years' living expenses available in fiat currency. After those two years are up, liquidating some hard assets to generate a further two years of living expenses in the absence of sufficient income would probably do the trick, and so on through the collapse of the fiat currency.
Hard assets will of course increase in demand as the collapse takes its toll, while the amount of fiat currency thrown at them would rise exponentially. The bubble on hard assets would probably burst once a new reserve currency would be seen to hopefully stabilize matters.
Hard assets would typically take the form of gold and silver bullion bars and coins of 999.99 fineness, real estate and farmland, petroleum, food commodities, and other precious metals in physical form. Exchange traded funds and similar paper assets, albeit purportedly backed by commodities, should be avoided like the plague.
From the advent of leasing in fractional reserve bullion banking, one never knows whether such funds have the physical commodities to back them up. Concentrations in farmland and petroleum foretell the anticipated increase in prices of food materials and petroleum products.
To a certain extent, therefore, one would technically liquidate one's hard asset positions to delve into the next undervalued asset class thus continuing to build wealth. In the meantime, the onset of multiple currency collapses leaves one practically shuddering about the future with possibly acute financial instability the world over.