Should The Dollar No Longer Be Convertible

                   

What would happen if the U.S. Dollar would no longer be convertible into other currencies, as it is today?

                       

Foreign countries would simply not accept it as part of commerce, as they do now. They would insist on other currencies, such as the British Pound, the French or Swiss franc, the Russian ruble, or the Chinese yuan.

The U.S. problem with its budget deficits would become more dangerous.

                       

Some currencies, such as the Japanese yen, have not been used widely as international convertible currency, so they matter to a lesser extent. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)