>>4
A dubious solution at best. Do we pick long-term favorites, short-term favorites that change as their prices change, or do we go all out and legalize them all? Imagine the chaos people would encounter at checkout counters as we convert multiple currencies into a single amount. There's also a reason the EU wanted to switch to Euros (and succeeded, but still failed).
The dollar is not on its last legs. The domestic policy of the last many many administrations has been building up to manslaughter the dollar but it's not dead because the country can not make it/is not prosperous. The current mindset of the administration is "spend to success" but the amount of spending that would be needed to cover interest on debt and the debt itself is not attainable currently - a hundred billion dollar investment would need to turn into a reliable trillion dollar return. And there needs to be enough of these to handle the debt in a reasonable manner and to counteract spending.
We can barely bring in three trillion dollars annually with taxes. Yeah, hurt is impossible to avoid but recovery is still within reach; it has to be made impossible.
Actually, that gives me a devious idea: switch currencies to the Chinese yen in light of "it's power." From there, the yen is automatically weakened, since we just introduced a lot of it, or we treat the yen like we have the dollar and weaken it "in pursuit of our economic interest." Ultimately we do not filter out the printed Chinese currency from the market when we switch back to a now stronger dollar.