Sadly, after the removal of Gold Standard in early ’70s by Nixon administration to prevent a run on the gold due to depreciating $, $ has become essentially “fiat” money. i.e. it is worth whatever Federal Reserve wants it to be. Normally, out of fear of inflation, Fed has an interest in being careful in guarding the value of $ and hence control money creation. But if there is a greater catastrophe (than runaway inflation), that restraint will fall by the wayside. This has happened all over the world in history. e.g. our own Continental Dollar
