Stopping issuance of new Treasury debt, and getting the Fed to just monetize IOUs wouldn’t invalidate existing debt notes (unless the Treasury just “paid them out” with the newly created money.)
No, it would simply destroy the existing “value” of the currency, just as in all cases of debasement in history.
No, it would simply destroy the existing “value” of the currency, just as in all cases of debasement in history.