After WWI, the French forced a debt burden on Germany they couldn't pay that led to their hyper-inflation. The French were also the ones in the early 1970's who pushed the United States to default on its gold debt under the Bretton Woods foreign exchange system. If you think the United States is going to default on its payments again, let's hear your reason, rather than your emotion based dislike of our fiat currency.
Over the weekend, a relative gave me more than 200 German 100-mark notes issued between 1903 and 1910. You may call this "emotion based dislike of our fiat currency." It reads like a fact to me.
When issued, they were worth just under $25 -- i.e., more than an ounce of gold. You may call this "emotion based dislike of our fiat currency." It reads like a fact to me.
I was recently apprised that they are now worth between $0 and $0.07. You may call this "emotion based dislike of our fiat currency." It reads like a fact to me.
They were demonetized following the German inflation of 1923.You may call this "emotion based dislike of our fiat currency." It reads like a fact to me.
Just on the off chance you're with me so far, where does that leave us? I posted these remarks on a stock market thread, citing to a observation that Japanese are losing confidence in paper. It's reasonable to read into my insertion of this litany of facts onto this thread a suggestion that the Japanese yen will become as worthless as (at least paper) Imperial Reichsmarks. After all, before WWI, the 5-yen coin contained nearly an eighth ounce of gold (.1205 oz). While the subsequent inflation of the yen has not constituted hyperinflation, particularly over the course of nearly 90 years, I support the concern expressed by (at least some) Japanese that their currency may well be headed the way of the Imperial Reichsmark.
Is the U.S. dollar approaching the same fate. No doubt, you are far more qualified to opine on this topic than I.