The U.S. is undergoing a historic experiment in doing "whatever it takes" to indefinitely prop up the economy through stimulus checks and massive multi-trillion dollar bailouts.

The coronavirus pandemic and subsequent lockdowns to contain it have prompted the U.S. Treasury and the Federal Reserve to pump more than $6 trillion into the economy—with potentially much more to come.

The unprecedented moves, which dwarf the federal government's response to the 2008 financial crisis, have sparked warnings the government risks "undermining trust in currencies" and that the dollar could become "a big joke."

"America has never seen anything like it," expert on the Federal Reserve and nonresident fellow at Brookings Institution, Peter Conti-Brown, wrote earlier this month, adding the extraordinary measures will put "pressure on a traditional line between monetary and financial policy controlled by the central bank and the financial, economic, and fiscal policy controlled by the president of the United States and his representatives."

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