Incorrect. It rarely ends that way. Only for entirely broken regimes. Sorry Armstrong has all the data. He invested $1 billion collecting it.
In another thread you predict USA will break into regions. Is this not the definition of an entirely broken regime?
Edit: let me give you a quick, incomplete hint. Read Armstrong for the many details and points. The failed regimes were due to dictatorship and/or a bankrupt ideology (e.g. communism in the Weimar Republic). When the population remains very productive and the debt is actually quite small (e.g. the debt is only $19 trillion in the USA but the productive capacity of the people is that much or more per year), then the society is not failed. We are going to see transition to a world reserve currency. This is not about total failure of government, except Europe is trying hard to achieve that again. China, Russia, USA, Canada, Australia, etc are no where near failed societies.
There is nothing new in the concept of world reserve currency. It can have many components this time, this doesn't change anything in how individual countries manage their economies and their budgets. Individual countries are pretty bad. For bankrupt ideology we have the welfare state. The productive population is shrinking, the liabilities of the governments are growing, you even said this yourself up thread, and there comes a point where society fails unable to bear the weight of liabilities. Enter hyper inflation.
I have read quite a lot of Armstrong, I don't agree with everything.