>>13229706Econ expert here. Hyperinflation is not just "really high inflation" it is a loss of trust and thus abandonment of the currency so it is a psychological phenomenon.
Right now the US govt is creating dollars like crazy and people accept this partly due to inertia, partly due to market manipulation and that there is no real alternative for international trade. Because the US dollar is the world reserve currency there is no other currency that can be substituted at the volumes required. In all the hyperinflations of the past there were more stable alternative currencies that people could switch to but that is not the case with the US dollar.
The US govt can probably get a way with printing even more money for a long time but when inflation hits double digits and interest rates rise then the interest payment on the existing debt alone quickly consumes the whole US govt budget. Of course the midwits in charge think they can just print their way out of that fiasco but that is a positive feedback loop that will ultimately destroy said currency. This is a known and historical fact in economics but the idiots in charge already have the academic/intellectual rationalization to go down this road called Modern Monetary Theory (MMT) but what I call Magic Monetary Theory.
This is already baked into the cake but WHEN it happens is not possible to predict since it is a psychological phenomenon and predicting it is like predicting when people will go crazy and burn all the witches. After the crisis we will probably end up on some variant of a gold standard to reestablish trust at which point the counterfeiters will do it all again a few generations later.
