You're right, and it's not that complicated. Government outflows already exceed inflows, and they will soon do so massively. Baby boomer retirement guarantees it.
To combat this, government can default on its obligations, meaning bonds, pensions, social security, medicare, ebt payments, etc. Or it can just print money.
That latter, of course, is what it's been doing - indirectly, by issuing debt that will never be repaid. There's no reason to think it will change that behavior. As long as monetization of debt is working, why stop, right?
But it won't keep working. As the debt grows, the interest the government has to pay on its debt will mount. Eventually, it will get to where the interest payments are untenable. At THAT point, the government will have no choice except to debase the currency directly, print out what it owes and eliminate the debt.
But the debt is already $700,000 per American. When government debases its way out of debt, everyone whose wealth is redeemable only in dollars will be wiped out. That includes owners of stocks, bonds, savings, pensions, insurance and, probably, even real estate - except for mines and farmland because, in both cases, the properties are more than just land.
That's what's coming. It's only a question of when.
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