Buffett made an unprecedented statement during his speech: 'Something may happen in America that will make us want to hold a lot of other currencies.' I was extremely shocked when I heard this. Buffett was once the most staunch supporter of the dollar and the most steadfast believer in the American financial system; this means: he no longer sees the dollar as the only 'risk-free currency.' He anticipates that there are structural risks to the purchasing power, stability, and convertibility of the dollar in the future, and he is even preparing for some kind of dollar credit crisis. It’s not a market bubble, but institutional risk; it’s not a bearish outlook on dollar assets, but a bearish outlook on the dollar system; it’s not a temporary hedge, but a necessary strategic preparation for de-dollarization.
This is Buffett's 'final advice' to all investors as he bids farewell to his long investment career of over half a century.