The dollar is the global reserve currency and there is no sign of that changing. People use it because it’s in their interest to do so. No one forces them. There is simply no currency out there in the world that can replace it in terms of volume or liquidity. It’s not even close.

President-elect Donald Trump said he would require countries that are part of BRICS — a China- and Russia-backed group of emerging economies — to commit to not creating new currency or face 100% tariffs during his administration.