To your point:
“China’s New Gold-Backed Oil Futures Contract Cuts Out U.S. Dollar”
https://seekingalpha.com/article/4104448-chinas-new-gold-backed-oil-futures-contract-cuts-u-s-dollar
I don’t think the general public has any idea how tenuous our hold on the reserve currency is.
I have no idea what comes next. But if oil turns away from the dollar, centra banks will not need dollars in their banks. Those dollars will come flying home—and it would be a fire sale.
It will be slow at first. Hardly noticeable. But it will escalate so quickly that “most” Americans will be left scratching their heads.