The moment of doom will be the day the US dollar no longer is the world reserve currency. That will herald the day the Federal Reserve can no longer create money out of thin air.
The Chinese and European governments should insist on treaty-based financial supervision rights over federal spending as a condition of continued dollar acceptance by the Bank of China and the ECB.
Biden and the Democrats will happily spend trillions of dollars until wallpaper becomes more valuable than dollars.
The Bretton Woods agreement had a fatal flaw: lack of an end date. Setting the US Dollar as the world’s reserve currency should have been gradually phased out, returning to gold.
Probably far to late now to do so now. All the decline we have seen in our country in the modern era can be traced back to the inevitable misuse of the dollar that Breton Woods caused.
That’s why I expect a global economic crash. Larger than 2008.
But hey, no worries - Greenspan had the solution:
Greenspan: US “Can Pay Any Debt It Has Because We Can Always Print Money” (video)
http://www.freerepublic.com/focus/f-news/2760087/posts
The Federal Reserve creating money is unimportant.
The proliferation of consumer credit is ten thousand times worse.