Here is a good essay comparing the 1976 devaluation of the Mexican peso to the current situation in the US:
http://www.zerohedge.com/news/2014-09-02/morning-after-what-happens-when-government-destroys-its-currency
No government is going to tell you the truth until they have to. When the US dollar collapses, it will have been "fully solvent" the previous day.
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