What would happen if no new bitcoins are created ?
I'd wait for the next difficulty adjustment, which would make mining FAR easier, then fire up my CPU miner and become a millionaire over night.
Unfortunately for me, your scenario is exactly as absurd as saying, "what would happen if all the banks decided to leave the vaults unlocked & open, and turned the cameras off?"
I believe you misunderstood. I mean bitcoin mining finished , 21 millions are created. Only transaction fees for miners.