You are talking about the past when America was viewed as a respectful nation (hasn't been true for awhile), faith the us congress/president will do anything about protecting the value of money is not there anymore, they just want to print and spend and not pay anything back in real terms is what has been happening and likely to continue and that pushes up prices and financial assets.
Bears keep thinking the currency is something special if they hold it will go up. Most nations if they experience a debt crisis with their fiat, people don't suddenly think, oh base money is only 1% vs 99% in credit, all these people will have to scramble to get the only 1% base money to pay back their 99% leverage on the base money, that dream of the bears is stupid and won't happen, debt crisis the currency gets trashed.
(20min delay)