This is why I said "decade" and not a shorter time frame. We're in the midst of some extraordinary times where things will shift quickly out of pure exigency. It's pretty clear that nothing can replace the dollar overnight, but most of the classic arguments in favor of it (stability , American military, etc.) are rapidly becoming obsolete.

This stuff is already happening. American Dollars have fallen from 66% of world currency reserves in 2016 to 56% last year and it's still going down. [0]

[0] https://www.investopedia.com/articles/forex/072915/how-petro...