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If the US dollar is devalued, will our debts also be devalued as well?
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[quote:Anonymous Coward 10309673:MV8xNzgxNjEwXzI5NTk5NzIwXzhGNUM5NTY1] What the hell do you mean "IF". The stated goal of the FED is 2% inflation per YEAR.That means the GOAL is to devalue your currency 2% every single year.Guess what? Since 1980 the AVERAGE inflation excluding food and energy is 6.9% or almost 70% every 10 years. Do you really think the price increases you have seen your whole life where caused by anything else? Let me break this down for you in terms you understand.Gasoline. The price of Gasoline in past years. 1920:31 cents per gallon 1940:32 cents per gallon 1950:33 cents per gallon 1960:40 cents per gallon 1970:42 cents per gallon Nixon ditches the gold standard 1975:52 cents per gallon 1980:99 cents per gallon 1990:$1.25 per gallon 1995:$1.26 2000:$1.50 2004:$2.00 2006:$2.40 2011:$3.48 Gasoline increased in price proportionally to dollars in circulation.More dollars=they are worth less. Yes your debts are devalued as well.But does it matter? The dollar is failing.Money supply has over tripled just since 2008.The feds balance sheet has exploded from 500 billion in 2008 to 2.8 TRILLION currently.The US budget has see like expansion with yearly deficits now passing our total dept in 1998(in other words we gain as much debt per year as we had from 1913 to 1998 per YEAR). [/quote]
Original Message
Leta say Bernanke devalues the US dollar 33 percent or even worse comes out with a new currency. Will our debts and credit card balances be increased accordingly to compensate the banks for their losses or will they have to accept the same dollar devaluation?
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