Money isn't a mechanism for the exchange of sovereign assets anymore. That role has been supplanted by debt. You wouldn't cash in your USD anymore than you wou

Money isn't a mechanism for the exchange of sovereign assets anymore. That role has been supplanted by debt. You wouldn't cash in your USD anymore than you would trade in your car because petrol prices have fallen. You might cash in your US Treasury bonds. I say might because there is no flight to safety from US bonds at nation-state scale. Treasuries are the only game in town. If all this is confusing then here's another way of looking at it... it doesn't matter how precarious the US financial situation becomes until such time as there is a scaleable, stable and transparent alternative means of storing, buying, selling, lending, investing value.