If the global reserve currency changing has tremendous risks of collapse to the US.
Most commodities are traded in US-dollars. This gives the US economy tremendous stability, as the stability get intertwined with the global economy as well as allowing the US to influence global ressource prices through increasing or decreasing the currency amount.
If these aspects stop working when a different currency replaces the US-dollar, it will expose the US economies weakenesses and force it to stand on its own much more.
We also saw the US to fiercly enforce the dollar as global oil currency. When Gaddafi suggested to the Arab league to establish their own currency and trade oil exclusively in that, he fell out of favor with the US again. Iran wanting to trade oil in other currencies is a strong sting to the US.
If the global reserve currency changing has tremendous risks of collapse to the US.
Most commodities are traded in US-dollars. This gives the US economy tremendous stability, as the stability get intertwined with the global economy as well as allowing the US to influence global ressource prices through increasing or decreasing the currency amount.
If these aspects stop working when a different currency replaces the US-dollar, it will expose the US economies weakenesses and force it to stand on its own much more.
We also saw the US to fiercly enforce the dollar as global oil currency. When Gaddafi suggested to the Arab league to establish their own currency and trade oil exclusively in that, he fell out of favor with the US again. Iran wanting to trade oil in other currencies is a strong sting to the US.