I better start hedging my bets and getting as many ancestral citizenships as I can.
For that to happen the USD has to reserve its reserve currency status which would require a lot of different things to happen. Many of those moves would be deliberate and co-ordinated actions on the part of countries that would want it to happen. In those countries the spirit is certainly willing but the flesh is still weak.
In terms of potential domestic causes the kind of hyperinflation we see in Venezuela or Zimbabwe or Argentina is also unlikely for the moment. For all its many flaws the U.S. has a highly diversified economy, a relatively sane central bank, and no crippling austerity measures imposed on it by an outside entity.
That all may change 15-20 years down the line, especially if the current political situation in the U.S. continues on the same course or goes down a worse one as a “solution.” For the moment, though, while wealthy Americans do keep a portion of their assets in things other than the USD the bulk of them remain in US-denominated holdings.
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I like how they’ve transliterated his Russian name. The Latin version is “Foma Kiniaev” but the Cyrillic version (using a standard transliteration) is “Ashch’f Lshtshfum”.
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Some countries have weird complicated approaches. Or weird complicated situations. A Korean American friend has been looking into using his parents Korean citizenship for a backup plan. Apparently Korea doesn’t extend citizenship to the kids of citizens born outside the country. But he can get an automatic visa/residency and start the process to naturalize faster. Problem being he has to move to Korea full time. So it’s less backup plan than just leaving.
Another friend was born in the Republic of Georgia, raised in Moscow till she was about 7. And only recently became a US citizen. Since she was born under the Soviet Union, she came here a Russia citizen. But her husband, kid and her can all become Georgian Citizens. Because of that whole fall of the Soviet Union thing. All of her siblings are already Georgian citizens, but she’s Russian. So she has to renounce her Russian Citizenship, but use it to claim Georgian citizenship. then apply for the kid and the husband.
Eta: I think the deal is that since she was born in a country that no longer exists her citizenship defaulted to Russia, where her family were living when them immigrated to good old New Jersey.
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Ah, yes, of the Ekaterinburg Lshtshfums! My cousin dated one of them for a time! Made their fortune in the steel industry.
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That’s because they used an US keyboard to type the Russian, not realizing the letters are in different places. The sequels, IIRC, fix that error.
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That enough proof for me.
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Wow, that’s a pretty spendy passport. It’s much cheaper to buy one in the US.
-spoken in late-night infomercial announcers voice-
Don’t have a US passport but you’d like one? Good news! All you’ll need to do is participate EB-5 immigrant investor program. A $500,000 investment will secure Green Cards for you and your children (those under age 21), and make you all citizenship eligible after 5 years.
EDIT - For those wondering, that $500,000 is not a fee. It is an investment requirement and your capital may be reclaimed after a 5 year waiting period.
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Uh, is there a code word for that in a dating profile? Preferably something that won’t get me flagged by TPTB.
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In my case it’s “serve 8 years in uniform and meet your eventual spouse there”. Not so much a dating profile as a lifestyle choice. 
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My first reaction was to exclaim, “8 years!” So, I’m thinking it’s good that marriage wasn’t one of my goals in life, or I might’ve emulated Zsa Zsa Gabor. 
Here in the UK I know plenty of (not-rich) people who are getting EU passports, and also making sure their kids have dual-nationality. Alas I have a standard mongrel British ancestry, so I’ll be stuck here come brexit.
I do know one person who could apply for a US passport, but US citizens get taxed even if they live in another country, so why would anyone want that? (AFAIK no other country tries to tax people who don’t even live there).
Are they getting special-super-citizenship; or are any of them going to be in for an amusing surprise when the disaster they are planning for leads to enough mobilization that they end up conscripted by 3 nation states simultaneously?
I think this depends if they end up being considered a US citizen vs a US National, if they are a nonresident US national and don’t earn their living from US based work then:
A nonresident alien is taxed only on income from U.S. sources, which includes compensation for services performed in the United States regardless of the location or currency of the payment.
Not a lawyer, so take what i say with a grain of salt. Source
Whatever it is, it’s legally mandated to involve cowbells.
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Your link talks about non-US citizens.
The rules for US citizens are different and phuzz is right.
US citizens nominally get to pay US tax on all income wherever it is earned.
https://www.irs.gov/individuals/international-taxpayers/taxpayers-living-abroad
Many countries have some sort of double taxation agreement which changes that position though.
For example the UK and the US have such a treaty, as a result of which US citizens living and working in the UK will generally only have to pay UK income tax - but will still have to report their UK income in a US tax return.
I know, that’s why i mentioned specifically that it matters if said person applying for the passport is considered a citizen vs a national as the rules between both vary as far as taxes go
Well, what exactly is a US national when he or she is at home? 
There as far as I am aware only two categories for tax purposes; US citizens or aliens. Both of those come in either resident or non-resident flavours.
Phuzz was talking about US citizens. I assumed you were too. The usual saw about making an ass out of’ u’ and ‘mption’ appears to apply.
I confess that i don’t know the particulars around the “national” category, i searched “do you have to be a citizen to get a passport” and the national thing came up. Looked further into it and posted what i found, and i don’t know enough about it to give an informed opinion.
