And, he seems to be missing some information here. Perhaps too much time negotiating from his side of the table leveraging debt for real estate? The government can basically replicate as much currency as it wants at zero cost. That too comes with peril, but there is really no reason to even talk about renegotiating our debt when it can basically be paid off with the push of a button. Perhaps in the end its the same effect as inflation should cause loss of buying power. In some ways the FedRes has already done that by squashing interest rates, and QE. And that has already come at a cost to savers and those rolling their notes over. But a benefit to those in debt!
What's the difference between sucking the value out of your retirement savings with a printing press and seizing it outright (other than being up-front about the fact that you're getting screwed)?