Got it. Yes, the "exorbitant privilege" of world currency seignorage would disappear. But I doubt that this privilege is truly reflected in supermarket prices, it probably gets siphoned into big pockets and never trickles down
Discussion
No, it does. We're the cantillonaires of the planet. Lots of things are artificially cheap for us.
People think we're all going to live like kings, but we'll probably be spending most of our money on staying alive, and commodities and basic services and infrastructure will be taking a bigger cut.
We will start having to make hard choices about how we spend our money because the money will be limited.
None of us have ever experienced that before.