The US can't go insolvent. The fed can could buy the entire debt out tomorrow out of newly created money. Sovereign debt in a country with such central bank is little more than future tax or inflation, but solvency is guaranteed.
All money is a human construct, exactly like the easter bunny, there is a whole set of arbitrary "rules" and conditions required to get chocolate, basicly everywhere, but in the one situation you have to be small and credulous, or put on agood act(usefull later in life) to get chocolate, and in the other the construct has become non optional and will be enforced on you as soon as you are no longer a credulous believer in the easter bunny, and this is what you are refering to,
the non optional partisipation in an arbitrary human construct.
The latest twist bieng the introduction of the idea that whoever has the most, very large complicated numbers, wins, also known as crypto.
It didn’t, the last 2-3 times that trillions were printed to sort that moment emergency (thinking in 2008 and 2020, but could be more) and there wasn’t a sudden drop of value then.