Secret plan to ditch the US dollar's dominance.

It’s very difficult to remove dollar dominance overnight. But I think the way US ECONOMY is shaping up with huge fiscal deficit  and speed of minting money without realizing future consequences of it, the value of $ will decline gradually over the years and will pave the way for other strong currency. China, India & other European countries are already demanding the change in global reserve currency. One of the suggestions put forward was to make IMF's SDR as global reserve currency. 

I think slowly all the export oriented countries will try to build their export exposure in their local currency or other common currency mutually decided by them. China is already driving for this. This will slowly reduces the value and impact of $ dollars in global economy and makes it easy to replace the $.

Apart from this as predicted that global economy will shift from US/EUROPE region to Asia-pacific region, it makes less dependence on US and easy for countries to deal in common currency rather than US $.

It depends on country by country. But in India, I believe people will like Rupee to dominate over Dollar and they are trying to do so from years. So, it can be very easily said that if people get chance, they will surely reject trading with Dollars.

Yes I totally agree with you Japan that the dollar dominance would not get over with in few years it would take time, but gradually the dollar dominance would reduce in the global trade as the dominance of US has reduced on the developing countries like India, China, etc.

Euro was introduced by the European union to reduce their dependence on dollar for the global trade. As compared to those years and talking about present the euro denominated trades has increased share in the global trade. This shows how the dollar dominance is slowly reducing in the world trade.

China is hurting, but they are doing something about it. They buy into Mining Companies to ensure they get their copper, iron ore, etc, and at the same time they have the opportunity to make profits as well. Remember, countries like China and India have huge populations, and their consumer market is growing. They form actually their own Global Villages into Global Markets.

It will be easier for OPEC countries to deal in EURO's. but that will serioulsy hamper Dollar. Many analyst still believe that US's military intervention in middle east is mainly to ensure DOLLAR dominance in oil trading

Yes Many countries are having tough time because of dropping doller values, especially china which is major export country and purely depends on export revenue.

yes secret plan.........

I agree that it could happen, but it will be a very bold step. The countries mentioned, together will be an enormous powerful pact

Is this the end of the USD’s Supremacy? Do you think they will go through with such a bold step?

They denied it, but what does that to the USD? Oil & Gold (XAU) were both in the spotlight with Oil being the key driver for much of the USD weakness. following the Independent report of Arab states in talks to flee USD denominated contracts.

According to me the rumour what it is, is not rumour anymore where the world's top currency was thrown into doubt as reports suggest that Arab states had launched secret moves with China and Russia to stop using the dollar bill for oil trading.

And also the the United Nations has called for a new global reserve currency to end dollar supremacy, which has allowed the United States the "privilege" of building a huge trade deficit. And with gold really performing well has been viewed as a safe-haven investment, and has won back favour in recent months as the global economy struggles out of its worst slump in decades. I think the world will ditch the US dollar in coming days and even the weakening of dollar also suggests the same, i may be wrong but that is the signal that is resonating everywhere.