From peter we
. . Then you might want to add Saudi Arabia, Kuwait, United Arab Emirates and Qatar to the list of countries to threaten as they have, or are about to, drop the peg to the dollar. . .
Yes, dropping the dollar is inevitable as the camels' nose is now under the tent!
What will America do when the dollar invested nations of the world no longer tolerate America's reckless printing of money (printed mainly to finance expensive US political agendas - Iraq war, ect. .)?
America's fiscal recklessness may be history repeating itself. - Back in the 1960's, the USA had somewhat also printed money to help finance the Vietnam war. France in suspecting this, had called Nixon's bluff and demanded that French debt be paid in gold. The result was that Nixon then un-pegged the US dollar from the gold standard, and later replaced it with a kind of oil standard . . .(world oil to be sold in US dollars).
America (and mainstay dollar based economies) are now in for quite an economic ride!