Is the main advantage of fiat currency. Higher inflation is supposed to help debtors pay their debts: with more money available, they can pay off an old loan faster. Of course, it hurts those who the debt is owed to: they're getting money worth less now than before.
The Austrian route would be as follows:
1) Prevent the Federal Reserve from purchasing federal bonds. Sell all federal government bonds in a free market.
2) Default on the available bonds.
Of course, that does hold an ethical problem: intentionally defaulting is breaking a contract. However, it does reflect the market risks of purchasing sovereign debt, especially with fiat currency.
Want DP delivered to your inbox daily? Subscribe here: