So presuming the accumulated government debt (aka the "National Debt", though it's owed not by the
people but by the government) still to be around when government is no longer wanted, bond holders will
have to whistle for their money. Is that fair and right?
Not at all. Through their pension plans,
those bond holders include a large number of individuals with very little money. Some provision should be made
to compensate them.
No it's not, but the blame rests fully
on the government who sold those bonds knowing full well that they could only be redeemed by stealing
more money from future taxpayers. Don't blame those who end the nightmare!
It's fair. The bond buyers knew perfectly well when they bought them that neither interest nor principal could ever be paid except by taxes
on real people; they were certainly accessories to theft and need no special accommodation.