[ephbit]

Let's say we had a situation where everything was backed by bitcoin (as a reserve currency).

Governmental budgets are one of the most obvious ways in which political decisions manifest themselves and become relevant for everyday life.

Do I get this right? You think that governmental budgets would look absolutely no different in such a bitcoinized world compared to how they look in the current centralbank issued money world?

You don't think the fact that central banks mostly support governmental debt shapes these budgets in a non trivial way?