And so the only real outcome is the debt continues to increase. As a percentage of GDP, out debt is over 130%. During the Greek financial crisis back in 2010, their debt-to-GDP ratio was 150%. It will only be a couple of years before we surpass those levels. The question is how long will the rest of the world continue to have faith in a currency which, as you say, is turning in to monopoly money.
That definitely doesn't look good, and seen from the other side of the big pond people who understand what's going on there are pretty worried, it's no secret that sooner or later everything bad will spill over from the US to the rest of the world. It's even harder for me to watch the US president in that story, because given all the recent weird statements, is it just confusion or is it dementia? Man loses his balance, but as it seems, the ability to judge is not something we can trust.
When you ask a question of confidence in the US dollar, I think that US foreign policy is putting (as always) a lot of pressure on the rest of the world - and few can afford to say no, given that we know how aggressive that policy can be. If we go further, the spearhead of that policy is, to my understanding, an incredible military presence around the world. The latest figures show that
the US has 750 military bases in at least 80 different countries around the world, and about 173 000 troops deployed in as many as 159 countries, which does not include covert operations and covert bases.
It seems to me that this is more than enough for anyone to start doubting the US dollar, no matter how deep it really fell into the abyss.