This is the deal: for years, the US essentially exported its inflation to China and other countries, who gullibly printed up their money to buy our T-bonds. When they matured, we begged these countries not to cash them in and pocket the money. And for a while, they wouldn't - they would cash them in and buy more T-bonds, which we used in part to pay the interest on the loans we just paid off. But we outspent even what the government takes in in revenue (your Federal income taxes pay for nothing else but the interest on the national debt), along with the trillions they borrowed from foreign countries, and in addition to taxing and borrowing, we printed up our own money - we created money out of thin air. In doing so, we weakened our currency, and this lessened the return our debtors received on their investments. This concerned - more likely angered - our debtors, but the dollar maintained strength relative to other currencies, so for a while they put up with it and continued to invest in our debt.
Those days are over. We have devalued the dollar to the point where oil is no longer bought and sold in dollars. And our debtors have taken our credit card turned it into confetti. Now, rather than export our inflation by asking other nations to devalue their currency to invest in our debt, we face three options: A> we can default on our loans. B> we enact massive tax increases, not just on the rich, but on the entire middle class as well - in the middle of a deepening depression. Or we can print up massive amounts of money.
Our actual debt is over $12T, but with future expenditures that debt is somewhere in the neighborhood of $78T (larger than the GDP for the entire world). That amount of money creation will cause massive inflation, massive rises in prices. What will then likely happen is, the government will attack the symptoms of the disease - rising prices - rather than the disease itself - money creation, and implement price controls on essential goods and services. But as inflation shockwaves through the entire economy, producers of goods and services will no longer be able to turn a profit because controls will exist on their finished product but likely not on the goods and services they employ to make that product. Unable to turn a profit, they will cease providing these goods and services, and then you will have empty shelves - no food, no water. Meanwhile, a high inflation rate will cause prices to rise so drastically and rapidly that people will rush to spend whatever money they get their hands on while it still has value relative to the next rise in prices. This adds puts a strain on demand; the law of supply and demand dictates that when demand rises, so too must prices. This snowball effect is known as hyper-inflation, and if you want examples of what this does to a country, I recommend you read up on the Weimar Republic, Zimbabwe, Argentina and Brazil, for starters.
This is the planned outcome and systemic collapse inherent in any central banking system - in our cause the Federal Reserve. They will implode our economy, they will take control of the food supply, they will outlaw organic farming and gardening, and regulate vitamins and supplements to the point of uselessness, and then you will have to grovel at the government's feet to survive. What happens at this point is speculative, but given the elite's obsession with eugenics and their fervent belief that the vast majority of the global population must be purged, personally my bet would be genocide on a scale never seen before in human history.
This is not just an American issue. This is a globalist scheme. It is being implemented on different levels, depending on each nation's level of indoctrination and apathy - their will to resist. This is why I've been warning on this blog and telling anyone willing to listen that the gilded age is over. The age of excess is over. The time for mass consumption, buying things we don't need for no other reason than to be part of the "in" crowd, things we can't afford, is over. The days of driving Hummers and Mercedes are over. From the lowest pleb in the ghetto to the high society snob living uptown, they will all suffer. The disease is terminal. There is no way to deal with this level of debt without massive upheaval. We either rise up and declare this debt the fraud that it is, that we, the people will not be responsible to pay for one red cent of it, or we sink into the greatest depression this world has ever seen. Either way, self-sufficiency is the best weapon you have. It is the only two words that matter right now. Can you survive a total economic and social breakdown? Time is short.