Rickards: The Dollar's Not Dying

The article pushes back on recent “dollar is dying” headlines that cited claims like “$40 trillion in national debt” and predicted the end of the dollar. It argues the U.S. dollar’s role as the leading reserve currency remains secure because foreign exchange reserves are mostly held in liquid dollar assets—especially U.S. Treasury securities. It notes the Treasury market’s size, liquidity, and depth outperform other sovereign bond markets, including Japan and major European venues. While higher rates and inflation could follow, the piece says that would mean the U.S. pays more to borrow and consumers pay more at the pump and grocery, not the collapse of the dollar. It also describes Treasury Secretary Scott Bessent’s plan to support liquidity across U.S. markets, including coordination with Japan and buybacks.