It took over 60 years for the world to move from the British Pound to the US Dollar, in Global trade, it will not happen over night.
All global trade is US Dollars and contracts are written in the value of US Dollars any change will not happen over night.
Some countries such as China, Russia, India and Brazil are already exploring alternative reserve currencies.
I don't think U.S. will go into bankruptcy. They have enough resources to get past these hard times. Obama will not allow it to happen.
Your life must be phatetic when you feel the need to abuse rep system on internet forum... Ya know, "retart"...
I've not given you any rep. I just pointed out how insignificant your posts here are by drawing attention to the level of respect you've not-earned in under 300 posts... Who is pathetic?
I doubt bankruptcy per se will happen. But you may see a whole bunch of scenarios which conclude the economic decline. Check this article to get an idea: From: http://www.thetotalcollapse.com/the-american-empire-is-bankrupt/
No the US is NOT going to go bankrupt... Not unless the CREDITORS CALL THE NOTE. At this point, the Creditors are so in deep that calling the note at this time would be disastrous. They are waiting for things to rebound before coming anywhere near that point.
The USA is in the middle stages of bankruptcy. The first stages was hiring the federal reserve company to print the US dollar. This put the US government into debt, that it will never be able to pay.
Ah, the middle stages of bankruptcy implies you are BANKRUPT. As it stands, our assets are still equal to or great than our liabilities... For now anyway. To be bankrupt we would need to be completely insolvent and incapable of repaying any debt. As it stands right now, we are still paying our debt and interest on it as well. California? That is bankrupt. They are no longer paying their debt.