RE: I just wrote a check for $300k to pay off my debt and yes I threw in a little extra. The fact I don’t have that in my checking account is irrelevant.
One big difference — you can’t print money. The government can and will as long as the world still wants the useless paper.
Long ago Germany tried this and all of a sudden they had to start adding zeros to the Bills, and things went bad real fast. Other nations tried this as well. All it leads to is a “Man on a White Horse” to ride in and set things right in a bloody way. It might be a Napoleon, Lenin, Mao, Evita, Mussolini or Adolph Hitler. Everything will get better for a while—until it doesn’t. Favism, works to get things going but its a powerful drug with terrible side effects. It ends badly.