You would see a collapse in the prices. People with USD would stop buying them as well and would start buying gold/silver/other currencies. You are confusing currency with bonds.

What I think would be more likely is a collapse in demand for US bonds, which would cause a collapse in USD because less people have to transfer their local currency to USD to buy US bonds, therefore decreasing demand of USD, thus lowering it's price.

US government bonds would need higher interest rates to convince people to hold their wealth in dollars. Higher interest rates means the price of bonds would go down.

US bonds are priced in percent growth, just like all bonds. If the markets expect that the US is going print money to pay off bonds then the interest rates on US bonds would go up, since the future exchange rate is expected to go down.

At least US bonds being priced in USD does reflect the risk and demand associated with them.

What I wonder is, how is inflation being calculated in terms of the CPI, which is essentially prices in dollars? After all, what exactly is being measured by this? If dollars the very currency which is being printed, how does measuring prices account for how much M0 money there is?