Economist Jim Rickards highlighted the declining value of the U.S. dollar due to sanctions and rising debt, suggesting that nations may turn to alternatives like the BRICS currency.

He warned that the greatest threat to the dollar's stability is internal mismanagement, as the U.S. government assumes perpetual confidence in the dollar.

Rickards argued that the overuse of sanctions is prompting countries to seek alternatives, endangering the dollar's global standing.

He emphasised that the unsustainable U.S. debt trajectory could lead to the dollar's collapse.

Rickards also mentioned the potential rise of gold to $27,000 per ounce if the U.S. returns to a gold standard to stabilise the economy.

This calculation is based on the M1 money supply, U.S. gold reserves, and historical backing percentages.