You are treating USD as a currency. When most of the USD is in the form of other assets, it no longer is a currency. Hence, it has taken on proportions that we have never seen before.
The currency will fail but the unit of account might not. It is more like a measurement these days.
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This is true. And I had been referring to USD as a currency.
It does double-duty as a unit of account as well. A unit of account is similar to a weight or a distance. As a unit of account, USD may as well be like a kilogram or a mile. This will continue just out of habit. But the currency will fail some day.
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