Catenaa, Tuesday, June 17, 2025- Within the next 40 years, the US dollar’s reign as the global reserve currency could come to an end, warned JP Morgan CEO Jamie Dimon, citing accelerated de-dollarization efforts by BRICS nations, recently.
His remarks come amid a growing push from emerging economies to reduce dependency on the greenback, settle trade in local currencies and expand gold reserves.
The financial shift, led by the BRICS bloc-Brazil, Russia, India, China and South Africa-has intensified in recent months.
Dimon, speaking to CNBC, said the dollar’s future hinges on US military and economic supremacy. Without maintaining those advantages, he said, the greenback could lose its global reserve status.
“History shows reserve currencies do not last forever,” Dimon said, cautioning that geopolitical and fiscal missteps could expedite the decline.
The prediction aligns with broader concerns in Washington, as nations seek alternatives to the dollar and the BRICS group proposes a unified digital financial framework.
Seventy-one countries have already completed trade settlements without using US dollars, according to reports, and BRICS is courting dozens more to join its monetary alliance.
India has called for a digital BRICS pact, further signaling its intent to challenge Western financial dominance.
The White House has yet to issue a formal response, but officials have previously downplayed the threat to dollar hegemony.
However, economists warn that sustained erosion of confidence in the dollar could have sweeping consequences for US borrowing costs, global trade and foreign policy leverage.
