Possibly, but let me put that another way. Something like this has never happened to a systemically import currency before in the history of reserve currencies of the world - the US dollar since Bretton Woods, Sterling roughly the hundred years before that.

The quality essentially required of a reserve currency being that it doesn't do this.

Definitely popcorn time - also don't own long date low interest rate bonds time. Which would be most of them. Oops.