> How has that "unlimited" money supply worked out ever since?
It works very well when your currency is the world's reserve currency. You get way more latitude for printing money with much lower inflation vs some isolated economy win no deep reservoirs of unused currency in "reserves".
If the US loses the status of being the dominant reserve currency, the link between money supply and inflation will become much stronger. The USD is currently backed by the US hegemony , of which foreign policy is a big part of.
It works very well when your currency is the world's reserve currency. You get way more latitude for printing money with much lower inflation vs some isolated economy win no deep reservoirs of unused currency in "reserves".
If the US loses the status of being the dominant reserve currency, the link between money supply and inflation will become much stronger. The USD is currently backed by the US hegemony , of which foreign policy is a big part of.