Does the Dollar Have a Future?

[Benton D Struckcheon]

2. Crazy as it sounds,

out of the developed economies, our recovery was one of the best, because of the stimulus Obama managed to get through in '09. It was too small, and no repeat was done because of the 2010 elections, but it still did something.
As for the dollar, I have news for the author of that piece: it's not like the UN sits around and decides what the world's reserve currency will be. There is no official decision; it's simply the currency of the country everyone thinks is the most stable and is the most important to the global economy. China is catching up fast on number two and may already be past us, as I think they now attract more investment than we do, but on number one, it'll be a while before anyone thinks China's governance is more stable than ours. It's not just can you get your money in, it's also can you get it out without a hassle. That's taken for granted with the US, not so much with China. They need to build up a history of reliability before their currency is treated as the dollar is now.
Ditto for the euro, where the mere existence of the currency in 10 or 20 years is in question.