I'm zimbabwean, yeah the currency wasn't the reserve currency. but inflation, if it's not real to you. will become real. prices change every 30mins. that major retailers used electronic price tags, makes changing of prices easier. not only is the monetary system disturbed. but everything as well. the other way, the Fed would be able to make money without printing money, or raising taxes - would be to go to war. wars are effective, they enable mass production of good, plundering etc. but also come at a great cost. See what Eisenhower has said war. Also why the US has managed to keep inflation at bay, endless wars since the crazy inflation in the 70s.
I appreciate your direct testimony, but as someone who lived in the US in the 1970s it is very clear that the "guns and butter" economics of the time included very strong contributions to inflation through rampant war spending. Much of what ripped the US out of Vietnam was the population suffering as the economy started to melt down.
