Just hours of the Wealth Fund stated they are ditching US Dollar assets within 30 days, now we have this.
After Nixon took us off of the Gold Standard in 1971, the USA "backed" the dollar in a sense, by getting the world to sell oil contracts in USA dollars, creating what is called the Petro Dollar. If nations stop using the Petro Dollar, then in essence, there is nothing backing the USA dollar other than faith in the government and our credit worthiness. Those two are not looking very good right now.