Glenn Diesen - Greater Eurasia Podcast Larry Johnson: Decline of the U.S. Dollar & End of Empire
Jan 30, 2026
Larry Johnson, a former CIA analyst and State Department counterterrorism staffer, lays out the collapse of the U.S. dollar and the unraveling of dollar-led financial order. He touches on the end of the petrodollar, rise of BRICS payment systems, precious metals shortages, Japan’s treasury risks, and the geopolitical fallout as power shifts toward a multipolar financial world.
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Dollar Shift From Gold To Promise
- After 1971 the dollar became a promise rather than gold-backed, enabling petrodollar dominance and global trust in US predictability.
- Larry Johnson argues that weaponizing the dollar and sanctions eroded that trust and spurred alternatives like BRICS payment systems.
De‑Dollarization And BRICS Alternatives
- BRICS and other states started unloading US Treasuries and buying gold and silver, reducing demand for dollars.
- Johnson says this de-dollarization and new payment rails accelerate a breakup of the Bretton Woods order.
Prefer Physical Metals Over Paper Claims
- Hold physical precious metals rather than paper claims to hedge against currency devaluation and market settlement risk.
- Johnson notes buyers prefer real silver/gold because paper promises may not deliver physical metal.