We will see. All my life the only currency universally desired has been the dollar. I did not see the Ruble rebuilding foreign infrastructures, neither the Yuan, the Mark or the Yen. I am not informed enough to conceptualize a global economy based on SDRs but I know I ain't got none so I am naturally skeptical; also uncomfortable with control of the dollar passing out of our hands. . . . We will see.
Well, I’m too young to remember when the British Pound Sterling was the international currency, but I’ve read about it and other financial stuff further back.
We already have SDR and Global Groups that are being utilized. Of course nothing by itself can match the dollar for now. And USA will have Dollars and so will anyone else who wants it.
The plan is for the SDRs to only be used by the Governments/Central Banks—citizens and individuals will not be running around with SDRs. This system is already in use. Just what changes there will be, if any, are TBD.
While the BRIC nations have set up deals that do not include USD payments, we are a looooong way from any replacement of the dollar—nothing else could even give it a run for the money.
Like someone once said-The USD stinks as currency investment, except when you compare it to all others.
Look what happened to the internet.