It's simple. Debt is defaulted on. All of it.

We also have to get rid of SS payments, the VA payments, and so on. Covid did not succeed, so time for another killer pandemic that actually works.

Pity the naive and trusting retiree who will lose that big stash in the pension, the hedge fund, the money market. Bonds destroyed, stocks devastated.

Pity anybody without a good garden plot and a big stash of precious metals. God help us and have mercy.