"I do understand the value of USD being world’s reserve currency."
The US doesn't have "reserve currency" status and hasn't had since '71. Even if it did, there is no major advantage bestowed by such status. Many other countries manage their currency and social needs without it. All prices are set by what is favorable to both buyer and seller, not what currency denominates the price.
"So I assume this can continue forever until someone shouts “The Emperor has no clothes” and refuses to accept USD any more?"
The US dollar is self funding and never needs "backing" or acceptance to certify its value. Most modern economies function in a similar manner except they better understand the value of a stable and equitable distribution to the value of their currencies.
The price of any goods or services is always set by the availability of those, not the total dollars in circulation. A milk shortage will cause milk prices to rise, but will only affect bread prices to the extent that bread production might depend upon milk. Such price increases are "not" considered inflation in the normal context of economics.
"Would that “someone” be other countries that can’t print money with impunity and then makes enough noise to wake everyone up?"
It's been my experience that the only ones making noise about printing US dollars are Americans with an antiquated concept of econ based in a gold standard thought process that never worked well for anyone except those with lots of gold. The system established by the Bretton-Woods agreement post WWII persisted after '71 because it works. It offers the international community a "clearing bank" (Fed) for payments without being at the mercy of bond merchants and money traders.
"I dunno, but I guess if the dirty (clean) secret is that there IS enough to go around, we just need a structure and equity to it all, perhaps it can go on forever, right?"
Money creation is necessary to fund a growing population and economy. If you understood econ at the absolute macro level you'd know that bank debt cannot retire itself. Only money created by the currency-issuer can do that, or offer a store of value for our comerce. Bank debt based money in the private sector is always balanced by the debt borrowers accept and will wash out in any final analysis. The "national debt" represents our net savings from past productivity and has no bearing on future productivity unless we alllow it to be propagandized to favor the ruling class.
