People holding dollars/currencies, paper or electronic, will see huge "stored" value erosion.
It's called inflation, to a mega drgree.
It happened in many many countries, many many times.
It's not a problem confined to US, it is every country's problem.
Even China. Actually, it is much worse in China.
Gold is not the solution - it can be part of the solution. So are land and properties.
When things can not be resolved peacefully, war erupts.
History repeats itself.