How will the US dollar not be the top currency worldwide hurt America?

How will it effect our economy, oil, etc..?

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    If the USD is no longer the reserve currency of the world then we are in deep deep doo-doo.

    Prices would skyrocket the day after as the world's excess of dollars flooded back into the country. It would cause political, economical and social chaos.

    @Scooter- What about Gold? Countries are already trading oil in Gold to get around US sanctions on Iran. If more countries join in its over.

  • Matt H
    Lv 6
    9 years ago

    We wont know for another few centuries. The Euro is on the brink of collapse, Japan yen is weak, and the Chinese yuan is far too undervalued. The Dollar will be the dominant currency well past the 21st century.

  • Anonymous
    9 years ago

    We'll never find out.

    The Euro is in dire straits, and that only leaves China and Japan as competing currencies. The US dollar is by far more popular than either.

    *************

    For those dumb enough to be duped by the gold hype, gold is in a bubble right now. The moment a republican takes the White House, the war on the private sector will end, the USD will stabilize, gold will no longer be in demand, and it will plummet.

    It's true value is probably less than $500 per troy ounce.

  • 9 years ago

    The value of oil is presently gauged to dollar, it will be gauged to gold and we are lacking in it, unless we still have it at Fort Knox.

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  • Anonymous
    9 years ago

    It never has been the top currency worldwide.

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