The only path to quickly losing reserve status is a default. If you just inflate your currency you can let things play out and try to play politics to control it and slow it down.
I think very likely the future doesn't have one reserve currency, that the USD still plays something similar to its current role but similar transactions also happen in more currencies. so we lose sole reserve currency status, but not reserve currency status. The truth is we are already past this point. A lot of oil is already being traded outside of the dollar system already which wasn't true even 10 years ago.
There are 100s of hours of people including Gromen discussing this topic in depth on youtube if you look around.
It's more accurate to say: you don't default on your debt when your debt is denominated in your own currency. It doesn't require any specific reserve currency status to play that game.
I think very likely the future doesn't have one reserve currency, that the USD still plays something similar to its current role but similar transactions also happen in more currencies. so we lose sole reserve currency status, but not reserve currency status. The truth is we are already past this point. A lot of oil is already being traded outside of the dollar system already which wasn't true even 10 years ago.
There are 100s of hours of people including Gromen discussing this topic in depth on youtube if you look around.
It's more accurate to say: you don't default on your debt when your debt is denominated in your own currency. It doesn't require any specific reserve currency status to play that game.