When private businesses go bankrupt, shareholders get wiped out.
When governments go bankrupt, those who hold its fiat currency get wiped out.
Given the historical examples, one thing I think we can be sure of is that the US government will try to service its debt costs with currency debasement, just like many empires that collapsed before it.
That’s terrible news for the US dollar.
In the author’s opinion, the US Empire is on the spiral vortex in the toilet and cannot avoid the consequences of debasement. We are no different from every other Empire that came before.