But "no credit risk" usually is not discussed in such a context, it is just used dishonestly as it was in the above use of this lide. And in any context it is an extremely confusing way to artificially constrain the definition of "credit risk."
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Putting in indexing or interest clauses in non-financial contracts is usually too high transaction cost & error-prone. And many people, especially the most vulnerable, don't hold their $$ in interest-bearing securities, they just hold dollars.
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(also, the vulnerable are often debtors, so there are tradeoffs between what inflation might do to in-the-proverbial mattress savings and what it does to the burden of previously contracted debt.)
End of conversation
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