[t-3]

> When the economy collapses and the government lacks gold backed dollars to do counter cyclical spending because there's not enough gold reserves it doesn't go well.

Probably shouldn't be using this logic when the dollar is no longer tied to gold or any other physical asset though. There's a world of difference between a dollar based on gold and a dollar based on confidence in the US government.

[00N8]

They were describing the 1930s situation, when the dollar was backed by gold & it didn't go well

[t-3]

And I was saying that the dollar is no longer backed by gold, or tied to any other limited resource, so why would we assume that the same scarcity-driven dynamics are still in play?