how the devaluation of a countrys currency rids the country of its debts?
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Let’s pretend money is Pokémon cards and you have the ability to print Pokémon cards. You owe someone a Charizard (US dollar). You have the ability to print a Charizard and you do so. You can use that to pay off your debt. Sure, Charizards are less rare and so they are worth less now. But at least your debt is paid and people are still going to want Charizard.
Now let’s say you still owe a Charizard but can only print Magicarp (German Reichsmark). It takes 100 magicarp to trade for the Charizard you need. So you print 100 Magicarp, but now you printed so many that they are worth way less. You’ve paid your debt, but now all of the people who already had Magicarp can’t trade for what they need anymore. You may have gotten rid of your debt, but you also wiped out people’s savings by making it worthless. With enough rounds of this, people are suddenly need wheelbarrows of magicarp to pay for things.
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