DOLLAR DEMISE: Doug Casey and Mike Adams discuss how central banks are dumping the greenback for gold

By kevinhughes // 2025-01-08

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The U.S. dollar, once the dominant global reserve currency, is facing potential collapse due to unsustainable government debt and geopolitical tensions, prompting central banks worldwide to shift reserves from dollars to gold.
Gold is increasingly seen as a stable, tangible asset, unlike fiat currencies like the dollar, which are liabilities of bankrupt governments. Central banks, especially in BRICS nations, are rapidly accumulating gold to reduce reliance on the dollar.
BRICS nations are exploring alternatives to the dollar-dominated financial system, including a proposed gold-backed settlement system, signaling a growing desire to move away from U.S. currency dominance.
As the dollar loses value, Americans face eroding purchasing power. Experts like Doug Casey advise investing in gold and silver, diversifying internationally, and enhancing financial literacy to protect wealth and prepare for economic and political turmoil.
The decline of the dollar marks a seismic shift in the global financial system, with gold poised to reclaim its historical role as a monetary foundation. Individuals must act now to safeguard their futures amid this transformation.

The United States dollar, once the undisputed king of global currencies, is teetering on the brink of collapse. As the U.S. government's debt spirals out of control and geopolitical tensions rise, central banks worldwide are quietly shifting their reserves from dollars to gold. This seismic shift, driven by fear and prudence, signals a profound transformation in the global financial system. Renowned commodities and metals expert Doug Casey, in a "Health Ranger Report" interview with Mike Adams on Brighteon.com, sheds light on this unfolding crisis and what it means for everyday Americans. The U.S. dollar's dominance has long been propped up by its status as the world’s reserve currency. However, as Casey explains, the dollar is fundamentally the liability of a bankrupt government. (Related: Doug Casey: Entitlements, excessive defense spending and high federal debt interest push U.S. to brink of bankruptcy) "The U.S. government is truly bankrupt," Casey asserted. "People with any prudence are dumping dollars and going into a more stable, solid, tangible asset." That asset, of course, is gold. Unlike fiat currencies, gold is not someone else’s liability. It is a finite, tangible store of value that has stood the test of time. Central banks, particularly those in BRICS nations (Brazil, Russia, India, China and South Africa), are leading the charge in this transition. They are unloading their dollar reserves and buying gold at an unprecedented rate.

BRICS nations exploring alternatives to dollar-dominated financial system

At a recent meeting in Russia, BRICS leaders proposed a new settlement system backed 40 percent by gold and 60 percent by a basket of currencies from participating nations. While Casey is skeptical about the long-term viability of such a system, he acknowledges that it reflects a growing desire to move away from the dollar. "The dollar is the major export of the U.S.," Casey noted. "We give dollars to other countries in exchange for real goods, like cars from Japan. But those dollars can be printed out of nothing." This dynamic has made the dollar a "hot potato" for foreign governments, especially after the U.S. weaponized its financial system by freezing Russian assets. As central banks lose faith in the dollar, gold is emerging as the ultimate safe haven. Casey emphasized that gold is the only financial asset that is not simultaneously someone else’s liability. "Gold is money," the best-selling author and world-renowned speculator declared. "Before the last depression, everything was settled in gold… We should get back to using gold, but governments don't want to do that because the ability to print funny money is a fantastic way for them to control their subjects." For everyday Americans, this shift has profound implications. As the dollar loses value, the purchasing power of savings and wages will erode. Casey advised individuals to protect their wealth by investing in gold and, to a lesser extent, silver. "Put your savings in gold," the libertarian philosopher recommended. "Keep them in some place safe." The dollar's collapse is not just a financial crisis; it is a political one. Casey warned that the U.S. is headed toward a period of intense turmoil, potentially even a civil war. "The red people and the blue people cannot talk to each other," he said. "The only thing you can do is separate." In this uncertain environment, Casey advocated for international diversification. "Your biggest danger today is not financial or economic; it's political," he said while adding that establishing a presence in a second country is a wise survival strategy. Casey's advice extends beyond gold and international diversification. He emphasized the importance of self-education and financial literacy. "The best investment you can make is reading," he said while adding that people should learn how to speculate and know how the markets work. As the dollar's dominance wanes and the global financial system undergoes a seismic shift, individuals must take proactive steps to protect their wealth and secure their futures. The era of fiat currency is coming to an end, and gold is poised to reclaim its role as the foundation of the monetary system. For those who heed Casey's warnings, the coming crisis may also present opportunities. But as he cautions, "Reality always wins out over ideology and propaganda." The time to prepare is now. Follow DollarDemise.com for more news about the U.S. dollar. Watch the video below to know more about the interview of Doug Casey with the Health Ranger Mike Adams. This video is from the Health Ranger Report channel on Brighteon.com.

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BRICS nations exploring alternatives to dollar-dominated financial system

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