Efforts to replace the US dollar as the global reserve currency are worrying, but broad success of such endeavors is not imminent. US rule of law and sophisticated orderly markets eg. futures market insures ongoing trust of the dollar... for now. Also, there are no deep, liquid markets for the Euro, and ongoing risk of retrieving capital from China hinder a rapid move away from the dollar. We cannot deny, however, that there is a beginning of an erosion of faith in the US.
