They've jammed that up also. The UN treaties are effective with the signature until voted down by our Senate. They did this with the Vienna Convention in 1969. So if he's signed it, it's going to be implemented. Harry Reid won't bring it to the floor for a vote. http://untreaty.un.org/ilc/texts/instruments/english/conventions/1_1_1969.pdf

We are already monitizing the debt and if you will notice, all the countries we have gone to war with started trading, or threatened to, in currencies other than the dollar. There is a world-wide push for another reserve currency or even a "basket" of currencies. The IMF is already trading in Special Drawing Rights or SDRs and have been for quite some time.