Absolutely, everything will be converted and then...what will all those holding worthless UST bonds do? Will they continue to shovel their hard earned money from poor and rich countries around the world into your World currency?
No…and instantly you are living in a “Banana Republic” because your GDP to debt ratio is far beyond anything ever allowed for Argentina.
What do you think Gold will be worth in Banana Republic Ameros?
The USD is the irredeemable World Currency only due to the power of taxation laid upon the US citizen living in what has been sold as nirvana. Just try and leave without paying your share…