What would happen to the US, if people of the world chose to use EURO instead of US Dollars?

Question

What would happen to the US, if people of the world chose to use EURO instead of US Dollars?

Answer 1

Nothing of note.  100 years ago, people of the world chose the British pound, now it's dollar.  Did it kill Britain?  Nope; it's still very much around.

As Paul Krugman once put it, "the threat to the U.S. from the rise of the euro is this: five years from now, when wise guys in Vladivostok make offers you can't refuse, the payoffs may be in 100-euro notes instead of $100 bills".

Answer 2

we are in an inflaion because we are in 12 trillion dollars in debt. when we accumilate that much debt the value of our dollar goes down and the prices of everything goes up. we must frist have to stop that war because we spend biliion of dollars on it every month. If we dont do that soon and i mean soon then America will go bankrupt and we will fall as a nation...america is the WORLDS reseve currnecy if they swicth it to the euro which is happining right now then the value of our dollar will go down even more and it will eventually go to it's tur value 0

Answer 3

This is slowly happening in many places that either do not trust the USD as a reserve currency, or are alienated against  the US.

The EU is the largest economic bloc in the world, and China will soon be second (according to National Geographic and several other publications) with the US third and india soon to be in that position.  Loss of Reserve Currency status will continue US economic decline.  This is currently being demonstrated by rising oil prices: the US has gradually lost any real ability to dictate oil prices.  The US will continue to become a service economy, and this will lead to a progressive lowering of US living standards.

The references below all discuss future and contemporary economic possibilities.

Answer 4

We may find out on September 9th when OPEC meets again.  Very possibly they will dump the dollar.

Our dollar is now collapsing so quickly that the game is about over.

Answer 5

Not much economically.  The Fed would reduce the supply of money to make up for it.

The main fallout would be political, as it would signal the end of America's dominance of the world economy.  It would represent a switch to a more globally-based economy.