May sound very similar but it's more like if everything is going down, the strongest one is going to go down last. It's not really "unlikely to be a scenario where the US becomes insolvent" — it's that if it happens, it happens last. And a lot of that just has to be because the US "owns" the dollar, and the world ended up picking (let's not get into how) the dollar as the reference point for their own currencies; aka everyone's reserve currency.

So no matter how much the US fucks up, they just print more and more dollars and ensure the entire world collectively pays up for their fuck-ups. But if the US doesn't fuck up and does something good, then the benefits of that? Oh, that's a different story. No excessive benefit printing, no sir.

All hail exorbitant privilege.

The US world reserve currency status only happens by norm. When RU invaded UA the US cut off RU from most of their access to USD / US-allied banking. At that point, CN and the BRICS countries started working on a decentralized version of a "world reserve currency" which is partially implemented.

Investors know the US is going to lose this status if the current momentum continues and there are some possible alternatives.

Investors won't sit by and tolerate MONEY PRINTER GO BRRRRR if they have ANY alternatives and they have LOTS of incentives to find any.