Why the Dollar Surge Won't Last

That same broken dollar is now king. It won’t last. Think of it as a temporary scarcity of life jackets.
(..)
Sadly, at least for dollar bulls, it is not that the dollar is newly back to being the de facto world currency, the position it held for most of the last sixty years. Matter of fact, the U.S. dollar's so-called reserve status is more endangered than ever. The U.S. is still spending more than it brings in every year; it borrows money abroad to finance an unsustainable trade deficit; and it has lost its way with respect to building an economy around selling things for more than they cost. You know, the capitalism thing, as opposed to the financial engineering thing.

Because far from being a de facto standard, the dollar is really beginning to piss people off.