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Leading U.S. economist and gold proponent Peter Schiff has warned that the dollar crisis could begin as soon as 2025. The USD is already in a precarious position as developing countries are ending dependency on the currency. This strengthens the BRICS agenda of de-dollarization that could further weaken the U.S. dollar. It’s only a matter of time before things head south that could become a full-blown economic crisis, the analyst explained. According to Schiff, the DXY index, which measures the performance of the U.S. dollar is showing major signs of weakness. Also Read: BRICS: 85% Trade Settled in Local Currencies, Not US Dollar The index tracks the value of the USD against a basket of foreign currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. The index is now at 104.28 and Schiff forecasted that it could dip below the 90 level in 2025. Read here to know how many sectors in the U.S. will be affected if BRICS ditches the d...

The US dollar is on a slippery slope as BRICS is looking to topple it from the world’s reserve currency status. The de-dollarization agenda is gaining steam as the alliance is convincing developing countries to cut ties with the US dollar. On the heels of the BRICS de-dollarization efforts, Citi Bank has predicted the future of the US dollar. Citi gave insights on how the leading currency could perform in the coming months. Also Read: BRICS: US & Europe Headed For a Recession, Warns BCA Strategist BRICS: The US Dollar Could Dip, Predicts Citi Bank Source: TheStreet Citi Bank has forecasted that the US dollar could decline amid the global slowdown and remain bearish for the next two months. The DXY index, which tracks the performance of the USD shows that currency at 101.40. That’s a sharp decline as the currency was at 106.20 in June this year. The decline comes when BRICS is advancing to push the US dollar to the bottom of the charts. Citi Bank forecasts that BRICS currenci...