The currency reset is unavoidable. Bretton Wood was the rise, petro-dollar is the fall. USD is in crisis.
The debt is the big problem. Paying it down would make the USD less risky in the LR.
You've asked the right question. What WOULD it mean for the WRC to go into crisis. It wouldn't just be like Venezuela because there aren't trillions of their currency units in world CBs. Once the Fed panics after the MOAB bursts and prints like crazy in QE4, the world will send all those dollars back here. Be ready.
Absolutely not. I want us to default. That's the honest way because we cannot pay back the debt. Instead, unfortunately, governments always choose the dishonest default through printing the debt away. R's win that way :(