Comment $100 trillion Zimbabwe = $3 USD (Score 1) 102
> We have been hearing these same predictions about the national debt for almost 100 years
The fiat system has collapsed a few times, do you know anything about Brazil or Zimbabwe?
I don't think gold is a magic solution here, or returning to that standard would fix everything, but you do need some level of balance between the amount of currency and the things there are to buy with it and we damn near broke it during Covid with the mass inflation there. So I wouldn't be too cavalier that this could never happen, even as I don't think it's in any immediate danger.
But remember: there won't be a US dollar to peg the US dollar to if we screw it up and that's the only way Brazil got out of its mess in the 1990s.
Meanwhile, you can get $100 trillion Zimbabwe dollars for $3 USD.