If Dollar Crashes/Collapses, What Happens to Mortgage & Credit Card Debt?

are you kiddin me?

dollar crashes im not paying shit back!

Better be thinking about feeding yourself first.

If the Dollar crashes, you silly clown, that means we have had tremendous inflation. If so, you could pay your mortgage with just one or two pay checks. You'd be a total fool not to pay if off because you'd be able to sell it in the future and make considerable profit.

The dollar is being collapsed by design to usher in a New World Currency.

You can bet your ass debt will be transfered over to this new system, should it come to pass.

My guess is they will offer settlements/reduced rates under this new system to try and get people to go along with it.

are you kiddin me?

dollar crashes im not paying shit back!

Better be thinking about feeding yourself first.

If the Dollar crashes, you silly clown, that means we have had tremendous inflation. If so, you could pay your mortgage with just one or two pay checks. You'd be a total fool not to pay if off because you'd be able to sell it in the future and make considerable profit.

your debt will stay the same, so will your paycheck. i don't get what you're saying.

are you kiddin me?

dollar crashes im not paying shit back!

Better be thinking about feeding yourself first.

If the Dollar crashes, you silly clown, that means we have had tremendous inflation. If so, you could pay your mortgage with just one or two pay checks. You'd be a total fool not to pay if off because you'd be able to sell it in the future and make considerable profit.

your debt will stay the same, so will your paycheck. i don't get what you're saying.

Why do you think your paycheck will not keep up with inflation. Mine always did before I retired in 2001.

are you kiddin me?

dollar crashes im not paying shit back!

Better be thinking about feeding yourself first.

If the Dollar crashes, you silly clown, that means we have had tremendous inflation. If so, you could pay your mortgage with just one or two pay checks. You'd be a total fool not to pay if off because you'd be able to sell it in the future and make considerable profit.

your debt will stay the same, so will your paycheck. i don't get what you're saying.

Why do you think your paycheck will not keep up with inflation. Mine always did before I retired in 2001.

Inflation and dollar crash are a debtors best friend!!!!
Thats why they are doing it.
Worthless money to pay off debt.
If it takes a zillion dollars to buy bread, you still owe $500 on your credit card it gets easy to pay it off...

Dollar devaluation and hyperinflation are used to get us all out of debt.

This will suck for those who were good with their money and are responsible..


If you dollar is worth 50% of what it was the previous year, and a gallon of milk now costs twice as much as it did at that time, how does this making paying debt easier?

You are being paid exactly what you were before, and you are now spending twice as much for day-to-day expenses...

well, they are ASSUMING your pay will go up too, but i seriously doubt that.

Gotcha.

Just out of curiosity, have wages ever been raised throughout history to combat inflation/devaluation to and effective end?

its unclear to me what happens but I do have a curiousity about gold, if our money is backed by gold standard and gold goes through the roof then why doesn' t that make our dollar more valuable?

your debt will stay the same, so will your paycheck. i don't get what you're saying.

If the dollar takes a dive or dies completely, and there are bank holidays to allow for its devaluation and/or replacement, what happens to existing debt on the books?

I know that any cash you have on hand and in the bank will now suddenly worth less in value. But will the same recalculation be done on your debt? Or will that stay at the same value, and you're effectively screwed?

Sorry

The Dollar is not going to crash!

Thank you, OP, for posting this thread.

Although I can see that should this happen, any outcome is still to be determined, I am a lot more educated today than yesterday.

Another question:

My mortgage is one of those dreaded interest only/minimum payment notes that is remarkably working for me, since the current interest rate in under 4%.

It will be impossible for me to refinance into a comparably low fixed rate, due to the downward spiral I have entered since my husband's death. I do not have, and, will not have the documents now necessary to do so [even though this did not seem to matter when the mortgage was originated.]

If the dollar fails, I assume that interest rates will skyrocket. I think my note has a cap of 9%.

What kind of scenario might I expect should TSHTF?

If you cant afford the house then forget it. Dont worry about it. Im assuming you have little to know equity since you claim you cant refinance.

My savings are now tapped, my credit rating has diminished as creditors cut my credit lines and raise interest rates. My wages are hardly enough to sustain us as it is.

Am I screwed?

Thanks to anyone who can enlighten me...

Sorry

The Dollar is not going to crash!

I can tell you what happened to debt in Weimar Germany when the reichsmark collapsed.

The debt that people had was converted from the mark, and had to be paid in gold.

And the people who owed those debts were completely FUCKED because they had to pay their debts in gold. Their debt consequently skyrocketed to the stratosphere.

This is an absolute historical FACT.

Therefore, people, do not count on being able to pay your debts with a deflated dollar.

They will not allow this to happen.

This is one reason why a gold based economy will NOT work. It will not eliminate serfdom or people's ability to pay off their debts.

Listen to me, this is what will happen.

The dollar will collapse, and all debts will be converted by to gold, because the bankers sure aren't going to allow themselves to be screwed. The politicians will go along with this because they are being paid off.

For the same reason, Obama is going to change his pocket veto to approval of robo-signing of fake papers to foreclosing on people's homes.

Watch, and you will see. Everything I am telling you now is going to happen.

Sorry

The Dollar is not going to crash!






Watch and learn

The Dollar will be going up and Gold going down.

Let me explain what I know, although it is my euro knowledge.

When the dollar crashes your debt will stay the same. The dollar crash will not happen within lets say 24 hours, it will be a longer process till it falls of a cliff. So you will get some bad inflation at first. So every dollar loses it's value more and more. Though your debt stays the same. At one point work payments will have to go up or you won't be able to buy food, that will happen. So you are going to make more dollars, though they lose value, but your debt is still the same in dollars. So you will be able to pay off the debt rather easly.

And if your current (for example) mortgage fails, it will be taken over by another party, which will try to maintain your current contract, or make you another proposal with similiar specifics.

Sorry

The Dollar is not going to crash!






Watch and learn

The Dollar will be going up and Gold going down.

The only way that will happen if the Govt pays off all the debt and we have a surplus. We are 15 trillion in the hole. You are smoking weed if you think the more money they print the stronger the dollar gets. While your at it run and sell all your gold ASAP (if you have any) convert to cash. That is what they want, then you can guarantee that you'll be a ward of the state

Let me explain what I know, although it is my euro knowledge.

When the dollar crashes your debt will stay the same. The dollar crash will not happen within lets say 24 hours, it will be a longer process till it falls of a cliff. So you will get some bad inflation at first. So every dollar loses it's value more and more. Though your debt stays the same. At one point work payments will have to go up or you won't be able to buy food, that will happen. So you are going to make more dollars, though they lose value, but your debt is still the same in dollars. So you will be able to pay off the debt rather easly.

And if your current (for example) mortgage fails, it will be taken over by another party, which will try to maintain your current contract, or make you another proposal with similiar specifics.

Sorry

The Dollar is not going to crash!






Watch and learn

The Dollar will be going up and Gold going down.

The only way that will happen if the Govt pays off all the debt and we have a surplus. We are 15 trillion in the hole. You are smoking weed if you think the more money they print the stronger the dollar gets. While your at it run and sell all your gold ASAP (if you have any) convert to cash. That is what they want, then you can guarantee that you'll be a ward of the state


With all due respect, what I am saying is that is a rigged game.

Sorry

The Dollar is not going to crash!

I can tell you what happened to debt in Weimar Germany when the reichsmark collapsed.

The debt that people had was converted from the mark, and had to be paid in gold.

And the people who owed those debts were completely FUCKED because they had to pay their debts in gold. Their debt consequently skyrocketed to the stratosphere.

This is an absolute historical FACT.

Therefore, people, do not count on being able to pay your debts with a deflated dollar.

They will not allow this to happen.

This is one reason why a gold based economy will NOT work. It will not eliminate serfdom or people's ability to pay off their debts.

Listen to me, this is what will happen.

The dollar will collapse, and all debts will be converted by to gold, because the bankers sure aren't going to allow themselves to be screwed. The politicians will go along with this because they are being paid off.

For the same reason, Obama is going to change his pocket veto to approval of robo-signing of fake papers to foreclosing on people's homes.

Watch, and you will see. Everything I am telling you now is going to happen.

Assuming your right, so lets say a $150,000 Mortgage converts to a gold debt. How many oz's would that be? Im thinking 1/4 or a 1/10 oz would be fine with me LOL

are you kiddin me?

dollar crashes im not paying shit back!

Better be thinking about feeding yourself first.



Dude, that's exactly the wrong answer.

If the dollar crashes, you want to gather up all the dollars you see blowing down the street in the wind and pay off your mortgage and all your debt.

If the dollar crashes, it will be EASY to become debt free because you'll be paying off your debt with toilet paper.