This is gold bug nonsense. There are litterally hundreds of billion in foreign currency exchanged every day. Someone who wants to buy oil in euros swaps his euros for dollars the momemt of the trade. While this creates an artifical demand for dollars it is tiny in comparison to the American economy. For example if there are 100 million barrels of oil traded daily at $65.00 a barrel, that is a demand of only, $6.5 billion dollars for the oil trade every day. The American economy is over $10 trillion dollars in size. Which make $6.5 billion a mere 0.65% of the size of the economy.
I posit another theory. The American government is the most free has the strongest property rights and is the only country with the millitary might to protect its interests globally. That certainly makes it a better investment than, any other currency.
Especially a currency that is backed up by bloated socialist regimes with little or no military to protect themselves, lackadaisical workforces, companies that can no longer afford to do business there due to high taxation, and no natural resources to speak of outside of the oil field in the North sea.
If this should happen, the obvious counter to it is the Fair Tax which would create a tax haven here, lower the cost of doing business here and then let the feathers fly......
Good points.