USD losing world currency status?

The USD is in free fall, and more and more countries are abandoning their pegs toward the US currency. What would be the consequences for the world, for the USA if the we would move over to a monetary system where there is not only one world currency anymore? What if the USA had to borrow money in Euros or Yuan? I know we are not there yet (maybe even never), but what a blow to US imperialism that would be.

Here is what the UAE is doing...
The United Arab Emirates may link the dirham to a basket of currencies, ending its 30-year-old peg to the dollar, central bank Governor Sultan Bin Nasser al-Suwaidi said.
More here.