Virtually every time a nation has issued sovereign bonds in a currency not their own throughout history, they almost exclusively issued them in the dominant global currencies of the time (dollars, sterling, etc). In many cases they had weak economies and/or were on the periphery of the financial system. Argentina, Mexico, Russia, China, Saudi Arabia, France, Germany, Japan, et al It would be a disastrously poor policy choice for the US to issue bonds in anything other than dollars, which they have the sovereign authority to pay in perpetuity. Because they are not a weak economy on the periphery of the system. They literally are the system.