I look at the situation in Zimbabwe and figure that is probably how our scenario will play out.
They just said after x date, all old bills are no longer legal tender.
So you got paid twice a day because your dollar only bought $0.50 tomorrow.
Things finally crashed and stabilized when enough of the citizens refused to even take a Zim dollar and used foreign currency instead.
The emphasis being to move your currency, whatever it is, outside of the control of the irresponsible.
Instead of using foreign currency in the US, as was done several hundred times in the Great Depression, people used ‘scrip’. In effect it was a complementary currency to the dollar, used only locally in a tightly controlled manner.
As such it was extremely stable. It was also based in local trust, not federal trust, and the more people who used it, the stronger it got.
-— Things finally crashed and stabilized when enough of the citizens refused to even take a Zim dollar and used foreign currency instead. -—
Was the government ever cut back? If the bureaucracy is reduced by 90%, at least something good will come from this.