The funny thing about fiat currencies is that they have no intrinsic value of their own so there’s nothing to say that a Zimbabwe dollar is ‘worth’ more or less than ours aside from our collective faith that says a US dollar is worth more than a Zimbabwe dollar.
At the end of the day both currencies are faith-based and are both being inflated into irrelevancy.
Megan?
This is where the US has an immense advantage.
Even a “new” US dollar would have instant credibility.
Because, America is special....
I can't say I agree with that, Zimbabwe didn't have a 16 trillion dollar GDP, ergo the faith in the currency
But suffice it to say, your assessment with fiat currency imo is spot on.