The US dollar, the world’s global reserve asset, is currently spiraling out of control. USD’s purchasing power has been declining rapidly, weakening the American currency at a record pace. Moreover, Trump’s consistent tariff policies had ushered in global market uncertainty, putting pressure on the dollar at its core. Trump is also positioned to lower interest rates sooner rather than later, which may again shift global sentiments, weakening investments in dollar-backed assets. With such significant shifts happening at a rapid pace, one leading asset manager now believes that the dollar may continue to roll in the dust in the near future.
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Dollar to Continue Falling?

As per a recent Bloomberg article, DoubleLine Capital’s Bill Campbell believes the US dollar is poised to decline further in the near future. Campbell, in his recent note, shared how the appointment of the new Federal Reserve chair, who may eventually end up cutting rates, could thwart the US dollar’s progress in the future.
“There’s potentially a lot more gas left in the tank for the dollar to move lower.” Campbell said in an interview.
DoubleLine Capital, boasting a $95B AUM, later added that the lowering of interest rates might be the key phenomenon that may put dollars in further jeopardy. The aforementioned development may slow the US economy down a bit, putting a toll on the USD value and power dynamics.
Ray Dalio Believes USD Might Get Pegged To Gold Again
Ray Dalio, a notable financial expert and CEO of Bridgewater Associates, had once again called out the US economic collapse. Dalio shared how the spiral may end up reversing time, bringing the gold peg back into active consideration.
“The US dollar used to be backed by gold. And it’s not farfetched to think we may be headed there again in the future. History shows us that the same cycles repeat time and time again. One such cycle is related to currency devaluation. Once people start to lose trust in the fiat system, we see a specific cause-and-effect reaction occur. 1) Governments print a lot of money. 2) They pay off the debt with cheap money. 3) Nobody wants to hold the devalued currency. 4) Governments go back and link money to gold.”
The U.S. dollar used to be backed by gold — and it’s not farfetched to think we may be headed there again in the future.
— Ray Dalio (@RayDalio) August 5, 2025
History shows us that the same cycles repeat time and time again. One such cycle is related to currency devaluation.
Once people start to lose trust in the… pic.twitter.com/D6sfRtOd0i
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