PCG: Is the US dollar being eliminated?

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COGwriter

In its current edition of The Philadelphia Trumpet, PCG has the following:

Is the U.S. dollar losing its safe-haven status? Capital Economics weighs in

The horizon is darkening for the world’s dominant currency. Despite some positive financial news in the United States, other nations continue to reduce their reliance on the U.S. dollar. The price of gold has spiked past $3,000 per ounce as central banks around the world load up on the precious metal in lieu of dollars.

Yet the U.S. dollar may soon face an even more formidable rival than gold bullion: digital money.

The only reason the dollar has not collapsed already is that the world’s other major currencies are in even worse shape. Since there is currently no viable alternative reserve currency, central banks grudgingly work past the dollar’s flaws and continue to use it for international transactions. But what would happen if those banks no longer needed currency reserves at all?

Soon after China launched a digital yuan in 2021, the Bank for International Settlements launched a technology called Multiple Central Bank Digital Currency Bridge (mBridge). This project is designed to tie together central bank digital currencies from China, Hong Kong, Saudi Arabia, Thailand and the United Arab Emirates. Once operational, these five nations will not need to use dollars in cross-border payments as the mBridge system converts digital yuan to digital riyal, and digital baht into digital dirham.

The goal of mBridge is to eliminate the need for nations to keep U.S. dollars in reserve to make international transactions. This will drastically reduce demand for the dollar and tank its value. That will destabilize the U.S. economy, exacerbating the nation’s debt and making the U.S. vulnerable in almost every imaginable sense—abroad and at home.

The Bank for International Settlements is not attempting to achieve this goal by replacing the dollar with a new reserve currency: It aims to accomplish it by eliminating the need for a reserve currency altogether. https://www.thetrumpet.com/31309-eliminating-the-need-for-the-dollar

Since the Europeans came up with the euro, there have been efforts in various nations and groups of nations to reduce the use of the US dollar for international trade.

Sanctions by the US have pushed nations away from the SWIFT system of international payment settlement.

Related to that we put out the following video:

14:50

SWIFT end to the US dollar?

After World War II, the US dollar became the world’s primary international trading currency. In this video Dr. Thiel and Steve Dupuie go over some of the reasons for that development. They also discussed US dominance of SWIFT. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. SWIFT provides a network that enables financial institutions worldwide to send and receive information about financial transactions. The use of sanctions and the weaponization of SWIFT by the US is brought out as are alternatives to SWIFT development by Russia (System for Transfer of Financial Messages-SPFS) and China (Cross-Border Interbank Payment System-CIPS). Also the BRICS Pay alternative to SWIFT, mentioned at the BRICS Kazan Summit in October 2024 was mentioned as well as “the Unit”, which is a potential gold-backed currency that Vladimir Putin brought up as another alternative. An article titled ‘The Biggest Story that’s NOT Being Told Will WREAK HAVOC on the US Economy’ was discussed along with the specter of extreme inflation hitting the US once its dollar is no longer relied on internationally. The fact that SWIFT is supposed to be a European system, and one that Europeans want more control of, was mentioned along with the fact that the Europeans could also push harder for the end of SWIFT and/or the US dollar dominance. The timing of the coming Great Tribulation and US banking/financial matters was also mentioned.

Here is a link to our video: SWIFT end to the US dollar?

The USA dollar will no longer remain “king.” This will greatly impact the economy of the USA.

The USA has massive debt, has imposed numerous sanctions, has threatened other sanctions, cut nations out of Swift, and has often weaponized its dollar.

As more and more nations are affected, less and less trust the “safe haven” status of the US dollar. Notice also:

… the dollar tumbled after Moody’s Ratings stripped the US of its last top credit rating due to ballooning debt and deficits. 05/19/25 https://finance.yahoo.com/news/gold-gets-bounce-moody-us-235551394.html?guccounter=1&guce_referrer=aHR0cHM6Ly9uZXdzLmdvb2dsZS5jb20v&guce_referrer_sig=AQAAAH4t0oiZ4nGbSkIapaFHLj83FMhtBR8HNh-XqTRYXXiH-Zy9-BvnhlJvoQFrBT1oKmasPmOAlYJNqy1-03NmODP294Tg0QNOZUv80Z9-4BbetnMI5kMaLY5KQodL-aszZgCeEvI_LZ6XnF1jMtH1J6gQMpd3URq9mbVJ_WbjiYz0

Consider also that the Europeans have long wanted the euro to push the US dollar’s reserve currency status aside and the BRICS+ alliance wants to try to stop using the US dollar for cross-border trade.

The BRICS+ alliance includes Russia, China, and various African and Asian nations.

Related to the US dollar and BRICS, the Continuing Church of God (CCOG) put together the following video on our Bible News Prophecy YouTube channel:

14:31

BRICS Push Aside USA Dollar

The BRICS nations (Brazil, Russia, India, China, and South Africa) have as one of their founding goals, to eliminate the need to use USA dollars in cross-border trade. Six additional nations have been invited to join BRICS in 2024, and India reports that six more are also being looked at. The BRICS nations have already begun to drop the USA dollar for some cross-border trading with Russia and China indicating that they had almost done so completely in late 2023. What will happen to the economy and value of the USA dollar if more and more nations stop using it as a primary reserve and trading currency? What about hyperinflation? Does the Bible prophesy destruction for a highly indented nation in the end time? Is the USA the most indebted nation of all time? What about the intent and use of the Euro? Will Europe and Asia cooperate to eliminate the USA and its British-descended allies?

Here is a link to our video: BRICS Push Aside USA Dollar.

Last Fall I wrote:

Neither a possible Trump-Vance or Harris-Walz Administration has proposed anything that would truly stop de-dollarization. Actually threats against nations involved, by Donald Trump, as well as policies suggested by Kamala Harris, will tend to increase the speed of de-dollarization. (Thiel B. MW: Can America Survive Global De-Dollarization? COGwriter: No! COGwriter, October 4, 2024)

Well, that is happening. There will be many unintended consequences of Donald Trump’s statements and policies.

Notice something from my latest book available at Amazon Kindle: Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies? as well as Amazon print Unintended Consequences and Donald Trump’s Presidency: Is Donald Trump Fulfilling Biblical, Islamic, Greco-Roman Catholic, Buddhist, and other America-Related Prophecies?:

Notice what Donald Trump stated in late 2024:

The idea that the BRICS countries are trying to move away from the dollar while we stand by and watch is over,” Trump wrote in a Nov. 30 Truth Social post. …

“We require a commitment from these countries that they will neither create a new BRICS currency, nor back any other currency to replace the mighty U.S. dollar or, they will face 100 percent tariffs, and should expect to say goodbye to selling into the wonderful U.S. economy,” the president-elect recently wrote.

In October, speaking at the Economic Club of Chicago with Bloomberg, Trump warned … “We have to have that. We cannot lose it,” Trump said. “You’ll go to Third World status in this country because you take a look at the way things are running.” (Durden T. De-Dollarization Effort In Spotlight After Trump’s Tariff Threat On BRICS. ZeroHedge, December 3, 2024)

Yes, the impact of the USA dollar losing its reserve status would be horrible–and even worse than Donald Trump asserted. And things like 100% tariffs are inflationary.

The BRICS+ nations, which compose nearly half the population of the world, still want to bypass the US dollar.

US President-elect Donald Trump has threatened 100 percent tariffs on BRICS nations if they replace the dollar in international trade.

However, Brazil has indicated that it aims to boost the effort during its presidency of BRICS. President Luiz Inacio Lula da Silva’s government has said its objective is the “development of means of payment” to facilitate trade between member countries.[i]

Furthermore, some suspect that more countries in BRICS+ may destroy the ‘petrodollar’ system that supports the dollar.[ii]

The USA dollar will ultimately crash and be worthless. That “pride” of American power will be broken (cf. Leviticus 26:19).  …

European leaders have been working for years to establish a new reserve currency for the world, partially with the intent to remove the USA dollar from its current position as a reserve currency.

Those in Russia, Iran and some of the Arab lands, along with nations such as Brazil and India have discussed plans for the removal of the dominance of the USA dollar in global trade as well. Many are now working on that, along with China, in what is called the BRICS alliance.[iii] While Donald Trump did not cause all of this, an unintended consequence of the use of sanctions in the Trump-Pence Administration (as well as by the Biden-Harris Administration) is that more nations are looking to bypass the dollar. …

When the U.S. dollar is no longer the world’s reserve currency, this will hurt the USA financially. Increasing debt, including “quantitative easing,” is a form of dishonest profits that is not something that God approves of and will punish the USA for (cf. Ezekiel 22:13-16).

Inflation will eventually hit the USA extremely hard. As the world becomes less attached to the American dollar, many financial jobs and opportunities will be in places other than the USA. Eventually, but not yet, the USA dollar will become worthless.

Will it always be straight downhill for the economy of the USA?

No.

There are some reasons to have some temporary optimism. Proposed reductions in government regulations are expected to boost the economy. In addition, technological and other developments may temporarily support the U.S. economy—as can reductions of regulatory burdens.

Some policies of Donald Trump’s may help. …

For years, I have written that because of improvements in various aspects of energy and other technology (some of which Donald Trump seems to support), the USA may experience even more of an energy export boom, such as with oil and natural gas, etc. that may prolong its days of economic prosperity.[iv]  But prolonging is likely all that is possible as its destruction is prophesied (Daniel 11:39; Habakkuk 2:6-8). …

Since many are now questioning the role of the USA dollar as the world’s reserve currency, more are looking into other currencies as well as gold.

Gold will set records in U.S. dollar terms. …

When the U.S. dollar totally collapses people all around the world will consider that even if the euro (or something similar) is strong, having a more gold-backed currency would be safer.

The collapse of the USA dollar will shake a lot of the world’s confidence in non-gold backed currencies. The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the USA dollar or various other currencies.

Having the European power acquiring more gold to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied.

The debt accumulation policies of the Obama-Biden and the Trump-Pence Administrations, which were a massive acceleration of the previous policies of the Bush Administration, have to a large degree been continued and expanded by the Biden-Harris Administration.

The increases in America’s debt are heading the world into the time when something other than the U.S. dollar will be valued as its reserve currency.

A Trump-Vance Administration would need to make massive changes to possibly prevent this.

The USA and its dollar are at serious risk. …

Unintended Consequences

While Donald Trump seems to believe that his policies are best for the United States, notice some unintended consequences of them: …

Pushing tariffs and sanctions on other countries is contributing to the rise of the final time of the Gentiles (Luke 21:24; Ezekiel 7:24).Pushing tariffs and other policies that foreign nations do not like is contributing to other nations looking to bypass the USA dollar, as well as trade more with each other and less with the USA. This will further push various globalist’s moves forward without the USA. This is also helping set the stage for the coming European Babylonian Beast to dominate international trade.

[i] Indonesia joins BRICS group of emerging economies. Aljazeera, January 7, 2025

[ii] Dourian K. Are the BRICS gearing up to challenge the petrodollar? Middle East Economy, October 10, 2024

[iii] BRICS Expansion, the G20, and the Future of World Order. Carnegie Endowment for the International Peace, October 9, 2024

[iv] Thiel B. Barack Obama, Prophecy, and the Destruction of the United States. Nazarene Books, 2013, pp. 67-48

Since the above was published, gold has set records in US dollar terms multiple times. And more countries are looking seriously about bypassing the US dollar because of tariffs.

The US dollar is going away as the world’s premier currency and the damage to the US economy is beyond what most of its politicians realize.

That said, it is not just Russia, China, and parts of Africa and Asia that are pushing towards de-dollarization, so are the Europeans. They are also in the process of increasing their gold reserves, partially at the expense of decreasing their US dollar reserves.

Do not think that Europe will not one day support the complete toppling of the US dollar as well as the US itself (cf. Daniel 11:39).

Since many are now questioning the role of the US dollar as the world’s reserve currency, more are looking into other currencies as well as gold.

Gold is becoming the de facto reserve currency behind the US dollar and one day will greatly surpass the US dollar.

As I have long written, gold will set records in US dollar terms.

Now, I have made the previous statement many times, and gold has set records in US dollar terms many times since I started writing that statement.

It has been reported by others that many nations around the world are already in the process of accumulating gold to one day overthrow the US dollar—and that the “U.S. is unprepared for this strategic alternative to dollar dominance.”

When the US dollar totally collapses people all around the world will consider that even if the euro (or something similar) is strong, having a more gold-backed currency would be safer.

The collapse of the US dollar will shake a lot of the world’s confidence in non-gold backed currencies.

The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the US dollar.

Having the European power acquiring more gold to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied.

The debt accumulation policies of the US government are going to be a factor in the dollar’s and the USA’s decline.

The increases in America’s debt are heading the world into the time when something other than the US dollar will be valued as its reserve currency.

The end of US dollar dominance is coming.

One day, the US dollar will be eliminated.

Some items of possibly related interest may include:

Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? What about other peoples? Do you really know what will happen to Europe and the English-speaking peoples? What about Africa, Asia, South America, and the Islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon;  When Will the End of the Age Come?Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.

Spiritual Samaritans: Old and New Who were the Samaritans? Do the represent true Christianity or something else? Here is a link to a related sermon: USA in Prophecy: Samaria.

The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.

The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture.

Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is are links to related videos: European history and the BibleEurope In ProphecyThe End of European Babylon, and Can You Prove that the Beast to Come is European?

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