The Romans used debasement quite effectively. They were able to deal with massive ‘illegal immigration’ cities burning and cultural invasions in addition to ballooning debt. They made it 600 years Italian Roman collapse. Another 800 for the eastern Romans, aka the Byzantines.
Plenty of game left in debasement. S. America’s been doing it for decades.
I hear you, in fact I was talking about Rome doing just that, but towards the end, it wasn’t Rome any more. When I was a boy, America really was beautiful. We had the space shuttles and a future. It’s hard to see something you love go down. We are going down.