Where's Winston Churchill when we need him?
We have creeping "dollarization" where entire foreign governments stop printing money and start using dollars. I'm not sure how the Fed is supposed to deal with that. Do they increase the money supply to cover Ecuadors needs too? Clinton supported this policy. Indeed there were some articles posted that were from a person living there who claimed they were flying planes full of cash down to help pull of the switch.
Haven't heard much about it since then. And even the Argentina debacle in part revolved around the dollar-as-currency, though this was accomplished through strict convertibilty - as the Bahamas does.