Is The Dollar's Reign Coming to an End? Former Pentagon Advisor Says One Alaskan Deposit Sits at the Center of What Comes Next.
Former CIA Advisor Jim Rickards Has Released a New Free Presentation Examining the Documented Decline in the Dollar's Share of Global Reserves — and What the Institutional Shift Into Gold Signals About the Monetary System Being Built to Replace It
Washington, D.C., April 19, 2026 (GLOBE NEWSWIRE) -- The U.S. dollar's share of global foreign exchange reserves has fallen from over 70 percent in 2000 to approximately 57 percent today — its lowest level since 1994, according to IMF COFER data. J.P. Morgan, in a dedicated research note on de-dollarization, describes the shift as most visible in central bank reserve portfolios, where 'the main de-dollarization trend pertains to the growing demand for gold.' Former CIA advisor and economist Jim Rickards has released a new video presentation examining what this structural shift in the global monetary system means — and why he believes gold, and America's own undeveloped gold resources, sit at the center of what comes next.
His presentation draws on documented data from the IMF, the World Gold Council, and J.P. Morgan Global Research to examine the forces Rickards believes are driving one of the most consequential realignments in the international monetary system since the end of the Bretton Woods era.
The Data Behind the Dollar's Declining Role
The dollar's share of global reserves has declined steadily over the past two decades, from a peak of over 70 percent in the early 2000s to approximately 57 percent as of 2025, according to IMF data cited across multiple financial research publications including J.P. Morgan and the Atlantic Council. That decline has not benefited any single competing currency — the euro, yuan, and yen have each failed to absorb a meaningful share. Instead, J.P. Morgan's research on de-dollarization identifies gold as the primary beneficiary, noting that 'the main de-dollarization trend in FX reserves pertains to the growing demand for gold,' led by emerging market central banks.
Gold's share of global foreign reserves has risen from around 13 percent in 2017 to roughly 30 percent as of late 2025, according to U.S. News and World Report. A 73 percent majority of central bank respondents in the World Gold Council's 2025 survey expect U.S. dollar holdings to decline moderately or significantly within global reserves over the next five years.
The Gold Market as Evidence
The behavioral data Rickards examines is consistent with this structural interpretation. According to the World Gold Council, global central banks purchased 1,082 tonnes of gold in 2022, 1,037 tonnes in 2023, and 1,045 tonnes in 2024 — three consecutive years more than double the historical average of 473 tonnes annually between 2010 and 2021. Gold set 53 new all-time highs during 2025, with its annual average price rising 44% year-over-year to $3,431 per ounce, per the World Gold Council. Gold reached a record of $5,589.38 per ounce on January 28, 2026, per CBS News.
Rickards' analysis examines what this buying behavior reflects about sovereign institutions' view of the dollar's long-term trajectory — and why he argues the shift is structural rather than cyclical.
Where the Alaskan Resource Story Fits
His presentation connects this monetary shift to a domestic resource story that Rickards argues has received insufficient attention. A significant Alaskan deposit — documented in official resource filings as one of the world's largest undeveloped gold and copper deposits, with measured and indicated resources of 71 million ounces of gold and 57 billion pounds of copper — sits at the center of America's own undeveloped gold supply. President Trump's Executive Order 14153, signed January 20, 2025, directed federal agencies to expedite natural resource permitting in Alaska. Rickards examines why, in a world where sovereign institutions are actively reducing dollar exposure and accumulating gold, America's decision to develop or withhold its own gold resources carries strategic dimensions beyond the economics of mining.
What the Presentation Covers
- The documented decline of the dollar's share of global reserves from over 70% to approximately 57% — and what the data says about where that trajectory leads
- Why J.P. Morgan identifies gold as the primary beneficiary of de-dollarization in central bank reserve portfolios
- Three consecutive years of 1,000-tonne-plus central bank gold purchases and what they signal about institutional confidence in the current monetary system
- How America's undeveloped Alaskan gold resources connect to the broader question of U.S. positioning in a shifting monetary landscape
About the Presentation
The full video presentation is available for on-demand viewing at no cost. To access the complete session, click here.
About Jim Rickards and Paradigm Press
Jim Rickards is the author of The New Case for Gold, Currency Wars, The Death of Money, and other New York Times bestselling works on global monetary policy and economic strategy. He has spent decades studying the role of gold and hard assets in the international monetary system. His research is published by Paradigm Press.
Derek Warren Public Relations Manager Paradigm Press Group Email: dwarren@paradigmpressgroup.com
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