Cloak of Dollar Illusion

The dollar’s role as a good store of value is “questionable” and the currency has a high degree of risk

...or so says said Nobel Prize-winning economist Joseph Stiglitz. I couldn't agree more. The missing part of this article is what would happen if the world attempted to move to a new global reserve currency. I suspect that very quickly the great illusion of the US dollar would manifest itself as a gaping chasm. The comcommitant fall in the US dollar, the US standard of living, US consumption, and the US economy would plunge the the US and the rest of the world with it into a economic disaster.

It's not the the gaping chasm isn't here already ...its just covered by some precipitously placed Chinese silk.