Think of it this way -- ever wonder why creepy little poverty stricken countries like Haiti can't just "print more money"?
They can't do it because they aren't a reserve currency. We are. And the Chinese are scared to death they're going to be paying for GM, bad housing loans, unreformed Social Security etc.
Really - think about it - take away the reserve currency status and we're like Haiti - overnight poor.
as i said i think the dollar is doomed the day most of the world has not to buy dollars any more to pay their oil. this is the biggest threat to your country (bigger then iran, north korea...) because you would lose all the “benefits” beeing a reserve currency. but on the other side i can not see for example the EU would be willing to take over this role of a reserve currency if possible (because it would definitely benefit “us” the short way but in the long way it would be the same. the Euro would be held hostage instead of the dollar from the rest of the world). and more important neither EU nor China has a serious personal interesst in a poor US. a little bit weaker? definitely yes. but doomed. Hell no. so i don´t think this will happen anyway
greetings