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Comment by mothballed | Hacker News Reader

The US can't go insolvent. The fed can could buy the entire debt out tomorrow out of newly created money. Sovereign debt in a country with such central bank is little more than future tax or inflation, but solvency is guaranteed.

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All money is a human construct, exactly like the easter bunny, there is a whole set of arbitrary "rules" and conditions required to get chocolate, basicly everywhere, but in the one situation you have to be small and credulous, or put on agood act(usefull later in life) to get chocolate, and in the other the construct has become non optional and will be enforced on you as soon as you are no longer a credulous believer in the easter bunny, and this is what you are refering to, the non optional partisipation in an arbitrary human construct. The latest twist bieng the introduction of the idea that whoever has the most, very large complicated numbers, wins, also known as crypto.

Go and live in the woods. You dont need money. Die without a hospital its not required. You just want saftey.

But bonds and the Dollar could become nearly worthless

It didn’t, the last 2-3 times that trillions were printed to sort that moment emergency (thinking in 2008 and 2020, but could be more) and there wasn’t a sudden drop of value then.

stocks and real estate prices indicate that dollar lost lots of value during this period.

In 2008, $4 trillion was printed. But in the financial crisis, $4 trillion evaporated. The net result was zero inflation for the next 12 years.

Then 2020 happened, and they printed too much, and we've had inflation since then.

2008 and 2020 were global and other countries did the same and it was seen as reasonable.

Now with the current administration it would be different.

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