Renowned economist and best-selling author Jim Rickards highlights the role gold may play in helping the U.S. dollar maintain its current status as the world’s currency.

In a recent interview, Rickards explained that the U.S. Treasury should start buying gold to avoid central banks rushing to buy gold and reducing their dollar reserves, which would lead to a long-term depreciation of the dollar. "The Treasury's purchase of gold will restore people's confidence in the dollar and perhaps make people believe again that the dollar has real value." However, this will also increase the price of gold in US dollars, but Rickards believes that the benefits of doing so will far outweigh the disadvantages.

Furthermore, speaking about the possible replacement of the dollar, Rickards elaborated that when old currencies fail, new forms of money will rise, and highlighted the case of cryptocurrencies, “When it comes to money, humans are incredibly adaptable, and cryptocurrencies are an example.” (Bitcoin.com) #SEC