One of Wall Street’s most feared hedge fund managers on the decline of the dollar: Gold is ‘becoming the reserve asset’

Gold blasted past $5,300 per ounce last month as President Donald Trump’s hawkish foreign policy and tariff threats sent investors to safer assets. At the same time, U.S. deficit spending swelled to what the Congressional Budget Office called an unsustainable $1.9 trillion, a scenario that’s chipping away at the dollar’s standing as the world’s leading reserve currency.

The confluence of these factors has some investors predicting the fall of Treasury securities as the only true global reserve.