An unlikely hypothetical...
So the Federal Reserve is holding a crap-ton of US bond paper they have cobbled together through "quantitative easing". Thought: since what they are doing is printing money and devaluing the currency, I think it would only be fitting to declare every penny they are holding to be forfeit. Write it all off and refuse to redeem the bonds.
The trouble is the price raising bonanza isn't real at all, and we'll have to pay back those debts with real money. They should stop running up debts right now.