From your article: “That’s why the US has the mightiest military in the world.”
Not exactly. We have the mightiest military in the world because we have the exorbitant privilege of controlling the world’s reserve currency along with the ability to print all the currency we want. We have the mightiest military to protect that privilege.
I think this time the economic ramifications will be greater than in 1918 because this time around we will have an international monetary crisis in addition to a general economic downturn. The rest of the world is tiring of our privilege.
Sooner than later enough people will give up on the fantasy that mere currency is money. Instead, they will choose to store more and more of their wealth in real money such as gold and silver. That will mean game over for the dollar as a reserve currency. When the game is up there will be a monetary reset along with debt jubilees of some sort. That won’t mean the dollar and other fiat currencies will disappear, it will simply mean that they are priced in terms of grams of gold and gold flows freely for both small savers and large entities.