It also held value in the faith other countries had in the US, since that was the currency used in international trade.

With the Biden administration printing more than 25% of all US currency that's ever been in circulation in the past 3 years alone, as well as the Ukraine kerfuffle leading Russia, China and India to talking about changing currency in their exchanges, there's about half of the world on the verge of changing international currency, considering that China essentially owns Africa. If that happens, then the US dollar will be worth practically nothing, dragging the Canadian dollar and the currencies of multiple other countries who do a lot of trade with the US right along with it.