Author and investor Robert Kiyosaki has once again doubled down on his long-awaited stance on the bleak futures of the US dollar, arguing that the growing shift by BRICS nations towards non-dollar trade could force the greenback to the status of a failed reserve currency.
Back in the first week of December, the Rich Dad Poor Dad author had echoed a similar view. ,Bye-bye US dollar! Stand by, stay awake, stay tuned in. Don’t be a loser. My forecast is that savers of the US dollar will be the biggest losers,” Kiyosaki had posted on X.
This time, Kiyosaki traced past geopolitical incidents to show how the US dollar’s dominance has been preserved in the global oil market. He cited Iraq’s decision in 2000 to price oil in euros and Libya’s 2009 proposal for a gold-backed African currency, both of which were later followed by military interventions.
“In 2000, Saddam Hussein announced Iraq would sell oil in euros instead of US dollars. Three years later, the United States invaded Iraq. No weapons of mass destruction were ever found. But Iraqi oil quietly went back to being priced in dollars. Then it happened again. In 2009, Muammar Gaddafi proposed a gold-backed African currency. The gold dinar would have allowed African nations to buy oil without dollars. In 2011, NATO intervened in Libya. The gold dinar disappeared. “Kiyoaki said in a post on Facebook on December 30.
According to Kiyosaki, these incidents highlight the central role of the “petrodollar” in maintaining the demand for US currency.
He added that when a country challenges the dollar system, it faces economic sanctions, regime change, or military intervention. However, this pattern is likely on the cusp of change.
Kiyosaki argues that China has built dollar-independent infrastructure, with BRICS nations conducting 50% of internal trade in local currencies. Citing an example, he said that Russia reports 90% of China trade uses rubles and yuan.
In such a situation, the military can’t enforce a system that dozens of countries are simultaneously abandoning, he said.
Brazil, Russia, India, China, and South Africa, along with the entry of Egypt, Ethiopia, Iran, Indonesia, the United Arab Emirates, and Saudi Arabia, together form the 11-country bloc making up the BRICS nation.
Not just these countries, but globally too, central banks over the last few years have ramped up gold reserves as a sign of the growing trend of de-dollarisation.
An ANI The report, citing Goldman Sachs, said that “central bank gold buying to remain strong in 2026, averaging 70 tonnes per month,” a level that is “4 times above the 17 tonnes pre-2022 monthly average.”
In 2025, China continued to lead global gold purchases, with India also remaining a steady buyer. According to Sugandha Sachdeva of SS WealthStreet, BRICS nations now control nearly 50% of global gold production and hold a substantial share of official gold reserves.
“While the US continues to hold the world’s largest official gold reserves, BRICS nations collectively now have over 6,000 tonnes. Russia and China alone account for more than 2,000 tonnes each, while India’s reserves exceed 800 tonnes. At the production level, China and Russia remain among the world’s largest gold miners, giving the bloc growing influence over the physical supply chain,” she wrote in an article on Mint earlier this week.
Central bank accumulation has quietly become a key tailwind for gold’s bull run, driven by a structural de-dollarisation trend as reserve managers trim exposure to the US currency and diversify their reserves.
Against this backdrop, the US dollar weakened in 2025. The US dollar index registered a 9.4% decline in 2025, its biggest drop in eight years, according to a Reuters report.
Dollar can lose its reserve currency status
Against this backdrop, Kiyosaki warns that the dollar can lose its dominant reserve currency status, unleashing severe consequences for US savers.
He compares the potential outcome to past episodes in which former reserve currencies, such as the British pound, lost global dominance and triggered long-term declines in real wealth for domestic savers.
Kiyosaki argues that in a situation where the US dollar faces a threat to its dominance, large volumes of dollars held overseas could flow back into the domestic economy, sharply expanding the money supply and eroding purchasing power.
“It happened to every population holding a dying reserve currency throughout history. Most people will keep their savings in dollars and watch their wealth evaporate,” he warned.
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