not Since we became oil independent
Go back and look at Petro dollar.
That is what has kept the US dollar as the reserve currency.
It really had nothing to do with energy independence. It has to do with pricing the most important commodity in dollars—and forcing everyone to use it. It forces central banks to keep dollars in their vaults.
If Saudis decided they would accept “gold” or “bitcoin” or “hong kong dollars” (none likely) then those dollars would go on sale and they would come swooping back to the US faster than a SWIFT transfer.
The value of the dollar value would drop and EVERYTHING we import will become more expensive overnight.
At THAT point energy independence becomes critical as “domestic” spending would not see the inflationary spikes.
BUT...the SP500 would crash like the twin towers because muc of their income is from overseas.
The dollar as reserve currency (the petro-dollar) is the only reason we can print money until the cows come home. That is not going to last forever.