currency" status for decades now and it hasn't happened yet. It turns out that exporting countries kinda like it when we buy all the crap they manufacture, even if we are paying in US Dollars.
And your argument that debt is "taking future earnings and spending them now" is a classic example of single entry accounting. You are completely ignoring one side of ledger. Yes, debt does take future earnings and spends them now, but it also creates a future asset in the form of a treasury security. It makes no sense to ignore one side of that equation.
