The economic analysis of repudiation applies to the debt of all levels of government and to all countries. The central question is not how big the government is or how much it owes, but rather whether the debt is funded by taxes.
"The true principle of isolationism is that the government should be isolated and people who trade, interchange, and engage in voluntary travel, migration, and so forth should be allowed to peacefully do so."
As the money supply has skyrocketed, money has flooded into stocks, bonds, single-family housing, and crypto. But this doesn't translate into general prosperity for the countless unemployed and underemployed who face rising prices.
When police ineptly scanned a car's license plate and wrongly decided the car was stolen, they proceeded to force a group of children to the ground at gunpoint. Will this qualify as a rights violation if "qualified immunity" is absent? The courts will decide.
How do we convince people to submit themselves to the regime or to even die for it? Convince them that the regime was founded and sustained by a breed of superhuman "statesmen" like Wilson, Lincoln, and the "Founding Fathers."