Fiat Dollar’s Looming Extinction: A Reflection on Hubris
Reflecting on Trump’s bluster about imposing 100% tariffs on BRICS nations for moving away from the dollar, it is perhaps more pressing for him to focus on the numbers staring us in the face: a national debt exceeding $36 trillion, unfunded liabilities of over $200 trillion, and a debt-to-GDP ratio of more than 123%, all resulting from a reckless fiat Ponzi scheme that makes Monopoly money appear to be a sound investment.
The U.S. dollar’s demise was not orchestrated by BRICS. Rather, it was subverted internally through unchecked money creation, inflation, and the judicious application of sanctions against nearly half the world. A dollar predicated on credibility as a medium of exchange effectively committed suicide. This outcome is not characteristic of a financially savvy hegemon, but rather the floundering of a system that squandered its credibility until none remained. Is the dollar still a formidable currency? No, it has become a cursed relic, unraveling under the burden of its creators’ unchecked arrogance.
Trump’s persistence in issuing empty threats stands in contrast to the rapid growth and expansion of the BRICS markets, driven by dynamism and opportunity. Meanwhile, the U.S. market, when adjusted for real inflation, is shrinking, its vitality sapped by a series of missteps and policy blunders. Effective strategy requires thinking multiple moves ahead, a skill Washington currently lacks, as evidenced by its pursuit of economically disastrous monetary policies without a clear endpoint.
100% tariffs on BRICS? Not an issue. In fact, the emerging economic powerhouses of BRICS+ would likely respond with reciprocal sanctions targeting the declining U.S. manufacturing sector, which is struggling to produce competitive goods. While BRICS nations focus on building the markets of tomorrow, America is clinging to its fading economic dominance like a ghost haunting the ruins of its own making.
Let us be clear: the U.S. has chosen to engage in monetary-economic Darwinism, which will precipitate the rapid decline of its fiat currency. This is not a consequence of external manipulation; instead, it is a reality born of decades of regressive policies, strategic blunders, and an inability to adapt to a world that increasingly rejects the weaponization of monetary policy. The dollar’s decline is not merely likely; it is an inevitability.
Trump’s threats are hollow, as flimsy as the “mighty dollar” he claims to defend. The rest of the world has already moved on. Economic Darwinism.
