No Chance of Default, US Can Print Money: Greenspan - CNBC

Printing money devalues the currency (inflation), but it is all to often a policy countries use to pay off debt.

One other thin he said that I found very interesting that isn't getting much play (paraphrased): "Raising taxes and cutting spending both impact the economy negatively, but cutting spending has a smaller impact."

You are spot on.

From a technical point Greenspan is right. There is zero percent chance of default because we can always print money to pay the bills. That is the major advantage of having a stronger sovereign currency.

However, its kind of like saying, I will always be able to eat because I can always steal it.

Inflation, is a very hidden "tax". Its also one of the worst, because it doesn't just tax the amount of money you have made this year, but all the money you have EVER made and tried to invest in your future.

Have you spent years building investments and a portfolio worth almost $2 million dollars? How far is that going to take you if in 20 years, the cost of a loaf of bread is $12,000 bucks?

Hyper-inflation is far easier to trigger than people realize.