NOT it will never happen. We have all the leverage to make those currencies become useless.
How? Some of those nations have huge foreign exchange reserves and they can control the direction of their currencies. The US has virtually no foreign exchange reserves. It can print money, but that debases the Dollar and makes other nations even less prone to using it a reserve currency.
“We have all the leverage to make those currencies become useless.”
Maybe. But I think that in order to do this at this point, U.S. would need to double down on evil.
1. U.S. could increase illicit drug trade. Siezures by dea could be increasingly recycled by middlemen and sold domestically and abroad. Same thing with human trafficking with agencies taking a cut of the profits (bribes) to avoid investigations.
2. Wars. Increasing political instability typically causes a flight to the strongest military power, and that has been the U.S. since 1945. When countries like Iran, Syria, Libya sep out of line, they pay the price. With threats of war come orders for armaments.
At this point, our government has been terminally compromised because of the federal police state and the corrupt bureaucracies. They are controlled by statists. Trump can’t control them.
“” “” NOT it will never happen. We have all the leverage to make those currencies become useless.”” “”
And to what purpose?
In reality you can tread on all the people some of the time and some of the people all the time, but you cannot tread on all the people all the time.