Our debt will kill us if countries stop using the dollar.Good. The use of the Dollar of as an international unit of currency has made it too strong, hurting our Trade Balance.
As the dollar deflates our debt deflates too. Surely you saw that coming? I mean, literally, it has been obvious for decades.
There are many countries dropping dollar and using their own currencies for bilateral trades. It increases their purchasing power significantly. For example: India and Russia trade in rupee and ruble. India and Iran trade in rupee and rial.
Good for them.
the Rupee hit all time lows against the dollar just a month or two ago; their currency is nearly worthless, so naturally they are desperate enough to take another worthless currency in trade. We certainly don't want rupees, except maybe for joke wall paper. this normally would help their exports, but we're swamped with other countries' crappy low end goods, so their main export is indentured servants to Silly Con Valley, where even their big giant educations are worth less than a janitor's. they are also the world's third largest importers, which of course is bad for them; they refuse to stop rampant corruption, so it will be reaching failed state status soon. They hoped for BRICS to allow them to extort the U.S. and Euro countries into over-valuing their worthless currency, but that didn't happen; we hear nothing about BRICS any more, it was supposed to drive us into ruin, too, like all the other idiot schemes so now their foreign accounts are loaded down with worthless crap and they will have to pay in gold or some other barter, like some medieval despot.
It is OK for countries to trade with each other in their respective currencies. There is nothing wrong with it. If certain countries feel that their currencies are undervalued under current international monetary system then they are bound to take actions such as what is being discussed on this thread. There is a difference between value and price. You do not seem to understand that.