The government is guaranteeing untold amounts of debt on the full faith and credit of the United States. Previously, when times called for it, more and more treasury bills were sold. China has bought up a buttload of them. However, even China isn't buying them any more. Now we are left with empty promises not backed up by real value. In short, there will be money, but there is no value behind it. Here's where rampant inflation comes it ---government printing money on worthless paper. Prices go up because of too many worthless dollars chasing too few goods (that people are willing to take worthless paper for).....
In the last century before WWII Germans did this --- their citizens ended up burning the paper to keep warm......
“However, even China isn’t buying them any more. “
Incorrect. A big man in their banking system says our bonds are the only way they can buy AAA rated bonds. That is just a few posts above this one.