Lear Capital Founder Kevin DeMeritt Predicts the Future of Money

Lear Capital Founder Kevin DeMeritt has predicted that the U.S. dollar will be dethroned as the sole global reserve currency, with a bifurcated monetary system emerging, in which BRICS countries and their allies use a reserve currency backed by gold, while Western countries continue to use the U.S. dollar.

DeMeritt, who founded Lear Capital over 25 years ago, has long forecast a global monetary reset and observed that de-dollarization trends have accelerated since Russia’s invasion of Ukraine. According to DeMeritt, the BRICS’s future use of gold as a reserve asset is implied by recent central bank gold purchases, which were the second highest on record in 2022.

DeMeritt also warned of the potential risks of central bank digital currencies (CBDCs), programmable tokens that operate like fiat money, and which are issued and controlled by central banks. He said that could pave the way for a universal basic income, which would be distributed via CBDCs, with governments potentially using them to control people’s spending and to crack down on political dissidents. DeMeritt claimed that CBDCs are “going to happen” and predicted that it would take at most a decade for them to be fully implemented.