It was during the first term of Trump when he said something like "So long as people are buying oil in US Dollars, it doesn't matter how high the debt is."

It is reckless but he is kind of right. So long as it is the hemoglobin for a sizable bulk of global trade, it can potentially go a lot higher. But that is a path that ends in tears, any time between next Tuesday and 50 years from now.

I used to think the rise of cryptocurrencies for international transaction could decouple the US dollar enough to limit the ability to create too many bonds or too much quantitative easing, butt then stablecoins got popular, and they really like to link to USD.

This goes well with JD Vance wanting to end US Dollars reserve currency status. Truly the robber barons can't just leave a shell, it has to be graveyard dead too.