When Buffett, who says "never go against America," rarely warns: "Fiscal stupidity" will destroy currency

In his latest annual letter to shareholders, Buffett suspended his usual optimism and patriotic rhetoric, instead warning that the U.S. faces the risk of "fiscal folly," stating that "if fiscal folly prevails, the value of paper currency will evaporate," and noted that the U.S. has "been on the brink of collapse in its history, and fixed coupon bonds cannot prevent currency from spiraling out of control."