The scenario you are describing will affect those with and without debt....there are those without debt but are still marginally holding on...they will be also affected by the great “financial apocalypse” you are describing as well. No services, no electric, no products to buy, even hoarded gold and silver will hold less value than a loaf of bread! The preppers may have an advantage for a time but unless they have banded together and have taken over whole regions of the country they will not survive. The danger is that these areas become almost feudal and unable to unite should hostile world powers decide to invade our nation whole hog. A warlord situation will develop quickly in certain areas. You must keep in mind that there also are nukes available to a central government who would be desperately trying to keep order especially if run by folks hostile to freedom and religious minded population groups. “Nuff said”. In the scenario you describe...debt or no debt, everyone becomes impoverished!
A debt Jubilee may be the only way to stabilize the international economies...all debts public and private and between nations are simply canceled...derivatives are canceled. Who ever has can keep what they have and those without can be given a fresh start...ect. The problem is this could only be administered by a world wide agency, set up during the crisis, which would help usher in an evil world government. The debt jubilee is the right idea but I fear it will be administered by very evil people who hate God! The idea is that people would have to be more closely monitored and the means of production tailored to trends and predicted needs. You can’t let the world go back to repeated periods of unstained debt and revenue busts and bubbles, after all! Bio metric markers such as figerprints would be used to register every transaction and later folks would be chipped. It will all seem benign until folks learn the catch...oh you can’t be one of those “Christians, those homophobe, misogynistic racist bigots” and you have no choice not to be chipped as currency and hard money are meaningless...it is all electronic bits now! Nope we will all have to swear fealty to the Chairman of the emergency international financial stabilization agency who is demanding that all refer to his person as Lord! That is what this scenario you have painted may ultimately lead to...
But, that aside, I do feel this is the run up to a one-world currency, the Mark by those 'not-so-nice' people you reference.
I believe civil unrest will develope rapidly once the downward spiral of deflation begins to accelerate. It will become dangerous then. We must all guard against normalcy bias. I look forward to watching for your comments on FR. Thank you.