"... the US economy's on full throttle."The US economy is...

"... the US economy's on full throttle."

The US economy is certainly not at full throttle relative the amount of money that has been created and put into the system.

See the chart below, which is the inverse of the velocity of money.
When inverted, it becomes the ratio of the stock of money to the amount of economic activity (GDP).

I don't know for sure if all the money printing is going to emerge as inflation, but I think the chance is high enough to justify taking out some insurance in the form of some producing gold stocks.

In comparing the chart below with the price of gold, it's interesting to note that the lowest ebb in the gold price in the last 40 years (1998 to 2002) roughly coincides with the lowest stock of money relative to GDP.
Back then the money was well occupied in economic activity.
Since then, the stock of money has nearly doubled relative to GDP.

The message from this chart is that there is currently a lot of lazy money under some folks' mattresses.

As for the US defaulting on their debt, why would they ever do that?
They own the printing press.
The US can always pay off the debt with freshly inked notes.

Cheers

Inverse of velocity of money Source of data St Louis Fed https://fred.stlouisfed.org/series/M2V