The Relationship Between the Dollar and the World's Reserve Currency

Many countries are trending away from the dollar as they themselves fear US sanctions around what's been going on with the Russia-Ukraine war. Other countries don't want to get stuck being reliant on the US when America was so easily able to basically block Russia out of all US dollar transactions last year. So just the US having the world's reserve currency gives them so much control over the world's financial system directly and indirectly. And this is something that happens even less frequently than these kind of big debt cycles. But if you look back far enough, you see these cycles of different countries or different empires having the world’s reserve currency and how those rise and fall.