That so called economic analysis is hogwash. The Saudis don't mind buying there Sony's with Yen or their Mercedes with Euros, I'm sure that's what they do. Any country with a positive balance of trade with the US, which is most countries, doesn't need to "hoard" dollars. They need to spend them. The dollar has gone down because of the uncertainty over the war. And because high oil prices and uncertainty have a large negative effect on the US economy.