Reply #20: Your post is sort of nonsensical

[Dreamer Tatum]

You seem highly invested in the prospect of other countries moving away from the dollar. If you think the current recession is painful, wait and see what happens if foreign investment stops flowing into this country.

I don't think you know what you're talking about in the least, so I'll give you a thought experiment that's simple enough for you to understand, even if you're going to post a snarky response. China holds a great deal of US debt, which is denominated in dollars. If China supports a substantial move away from the dollar, it lowers the already-paltry yield on the notes it owns. If China takes any action that substantially cuts the inflow of capital to this country, the skyrocketing interest rates and prices would further suppress demand for Chinese imports. China is already hurting in this recession; if they make it worse, they can always burn those T-bills for warmth and fuel.

Said differently, our economies are intimately connected. China and Brazil changing numeraire doesn't really alter anything.