When will Dollar collapse as the world reserve currency?

[Kasz216]

Zappykins said:

Kasz216 said:

Zappykins said:
The Euro.

Doesn't anybody remember that Iraq was going to switch from The Dollar to The Euro as it's currency to sell oil a few years ago? I don't remember the exact details but bad happen to them (Iraq). Something with booms.

You would want to trade for a more stable currency.  The EU is the epitome of unstable at the moment.

Which is sort of the issue for the dollar.  No other currencies are remotely close to being adequete as a reserve currency.

If the US did get "replaced" very soon it would be, by no reserve currency at all.  (Or an internationally created one like the good ole bancor.)

Part of the sability comes from everyone using it as a standard. 

If the USA goes into default then that would be bad - and we would see some major drama.  I would then if not the Euro it would be the Chinese Yaun for sheer volume.

I'm not refering to 'should' but 'more likely.'

The thing is, the US actually does a lot so that the US can be a reserve though.

Stuff the Euro and Yuan just don't do, and likely won't anytime soon.

The Euro central banks would need a much tighter grip on money production and each countries individual debt.

The Chinese would need to rid themselves of the belief that they're cooking their books economic numbers wise.

 

I'd say it's far more likely reserve currencies just be abandoned, or at least any individual reserve currency.  You'd be more likely to see the dollar still dominate but say only be ~50% the reserve for any country.