Well it's difficult to say when you'd start getting paid 10x as much or more.
There has been lots of instances of currencies hitting hyperinflation but I'm not sure if we've seen a scenario where a world reserve currency like the USD goes through it.
I'm not an economist or anything but I think other situations were something like "okay now everyone is getting paid in a new US Dollar where 1 new dollar equals 100 old dollars". It might be as simple as that.
So I'm starting to get concerned about this line of conversation. At first I thought it was a joke, but apparently it isn't, so let's note a few things.
Hyperinflation would be bad. Yes, your debt could get paid off rapidly, in a sense, but the reason it would be paid off rapidly would be that people would lose faith in the fundamental structure of our economy and the idea that the US dollar would carry value, so the job you presumably went to college to get would not be very valuable any more. Countries undergoing hyperinflation have inflation rates measured in days, not years. Restaurants will be repricing their menus literally during the course of the day -- assuming they can somehow convince people to bring them food to cook, since they can't do it by offering people cash, since cash can't retain value. Where possible, people would just switch to a different currency, but since this is actually illegal in America, it's hard to know whether enough people would be able to do that to maintain the semblance of a functioning economy.
Revaluation of currency would probably happen, but it doesn't really matter. The inflation rate is a velocity based on the current value. The currency still inflates at the same rate. Currency revaluation mostly just happens as a courtesy so that you don't have to carry a million dollars around in twenties in order to buy a hamburger.
Saying that hyperinflation might help you out is basically the "possible nuke area?" of financial regulation.
It's crazy how China has been offloading US debt pretty quickly here in recent months.
China is no longer the biggest foreign holder of U.S. debt
They have to. China's money is collapsing because their balance of trade slowed down. They need to keep the yuan afloat to avoid pain for their citizens. For China to raise the value of the yuan relative to the USD, they need to buy yuan and sell USD. So they're dumping their Treasury holdings to try to bail themselves out.
