Isn’t the real threat to the US that Saudi Arabia and Iraq will start selling oil in currencies other than the dollar? Isn’t that why we have been kowtowing to the Arab Muslims for some many decades?
(imho) there is no completely ‘stable’ currency left anywhere worldwide. All currencies have been inflated. With the inflated currencies worldwide is difficult if not impossible to predict the outcome cause to hear the economists’ talk, “We’ve never been here before.” <-—That statement is always true, btw. (imho)
In the past that mattered. We were an oil importer and needed to be sure we could buy oil with dollars. However, we're now a net exporter (natural gas and refined products), and could be an even bigger exporter if the law banning exports of crude was repealed. It's the other people who now need dollars to buy our oil.