The Dollar's Death In 2026 Is Now A Mainstream Talking Point

I’ve been warning about the dollar’s eventual decline for some time now. Back in 2023, in my piece U.S. Dollar “Fear Mongers” Only Need To Be Right Once, I wrote that “optimists about the U.S. economy and the dollar’s global reserve status have had the wind at their back for half of a century,” and that this very success had made it almost impossible for people to seriously consider alternative outcomes.

I compared the United States to a gambler on the greatest hot streak in history, drunk on decades of winnings, blind to the reality that when you’re betting everything on every hand, you only have to be wrong once to give it all back.

Since that time, I’ve been tracking four developments in particular that continue to reinforce that warning: the accelerating de-dollarization efforts between Russia and China, the open challenge to the dollar being mounted by the BRICS bloc, the increasingly destructive nature of U.S. monetary policy, and the relentless rise in gold and silver prices, a market signal that confidence in the dollar’s long-term purchasing power is quietly eroding. Even the Swiss franc, long viewed as one of the world’s hardest currencies, has recently pushed to highs against the dollar, another subtle but important message from the market.

At the time I first laid this out, the argument was dismissed by many as fringe (hence the name of my blog, which came from a reader comment), overly pessimistic, even conspiratorial. But now that narrative is no longer confined to the margins. It’s moving steadily into the mainstream. A recent piece in WIRED makes that clear.

WIRED argues that 2026 may mark the year when what it calls “dollar dilution” truly begins to accelerate: not a dramatic collapse, but a steady erosion of the dollar’s role as the central artery of global trade and finance. The more Washington weaponizes the currency through sanctions, seizures, and financial exclusion, the more aggressively the rest of the world builds systems designed to route around it, it says.

And as my readers know damn well, this is already happening...(READ THIS FULL COLUMN 100% FREE HERE).

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