I've heard Stormy say that "The US Dollar isn't the world reserve currency because of guns or force as much as it is because of the fact that 1) the US has never defaulted on its debt and 2) the US has never swapped its currency. So your dollar for 1870 is worth what your dollar of today is worth." He was speaking in the context of JP Morgan (the man) bailing out the US government with his own cash and assets. What are your thoughts on this?
I've heard Stormy say that "The US Dollar isn't the world reserve currency because of guns or force as much as it is because of the fact that 1) the US has never defaulted on its debt and 2) the US has never swapped its currency. So your dollar for 1870 is worth what your dollar of today is worth." He was speaking in the context of JP Morgan (the man) bailing out the US government with his own cash and assets. What are your thoughts on this?
Not sure how to evaluate that - inflation is a soft default