If it gets to that point, the Federal govenrment will have ceased to operate as anything recognizable, and most of the finance industry is faced with two option

If it gets to that point, the Federal govenrment will have ceased to operate as anything recognizable, and most of the finance industry is faced with two options: a) update the valuation of their assets, recognizing that they are instantly insolvent, cease trading, and lock their doors; b) continue operating "illegally" in the hope that some sort of order will materialize Option (a) causes all the non-cash economy in the US to stop functioning. The gold and silver bugs are, briefly, ecstatic - this is their moment. Everyone else who would rely on their debit or credit cards to buy food and gasoline, less so. The legal order that is supposed to maintain things like elections theoretically remains in place, but the rapid collapse in public order forces states to step in. You have elections to some thing called the "United States", but when most of its money has been rendered worthless, does it really exist any more? Essentially this is the "prepper" fantasy.