I don't think it's axiomatic it's status can't end in, say, the medium term, or that it would be replaced per se. As a hypothetical, suppose the Federal govern

I don't think it's axiomatic it's status can't end in, say, the medium term, or that it would be replaced per se. As a hypothetical, suppose the Federal government decided to liquidate its debts the Weimar Republic/Zimbabwe way. You are of course correct about the current situation, including the PRC; I interpret it as the US dollar being one of the "least worst" places to put your money. I'm of course looking beyond this period ... which still doesn't necessarily equal people not wanting to hold US dollars, as we saw in the '70s when things got quite ugly. I'm just implicitly pointing out there's a whole lot being built on the current reality of the Federal government being able to borrow essentially for free, and that I expect the latter to end, with bad consequences for the former.