Editor, Gazette-Journal:
U.S. debt has gone from millions to billions to trillions, and soon to be quadrillions. There is no longer any possibility of the debt ever being repaid in a credible fashion. The dollar will continue to be inflated to the point that will permit the U.S. treasury to pay off the debt using greatly inflated dollars. The result of this supposed debt satisfaction with worthless dollars will result in a credit default as no one will remotely consider pledging goods and services for a worthless dollar.
Modern commerce cannot function on a barter or swap method of payment. Governments, after the dollar collapses, will immediately introduce a new currency system to attempt to stabilize markets and restore a semi- balance of commerce.
There has been considerable speculation within financial circles involving the issuance of what is termed, a Central Bank Digital Currency, or CBDC. Shortly after the introduction of Bitcoin to the currency markets there were discussions w...