If the US dollar is devalued, will our debts also be devalued as well? | |
Anonymous Coward User ID: 10685398 Belgium 02/13/2012 02:30 AM Report Abusive Post Report Copyright Violation | |
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GeosAlien User ID: 975226 Netherlands 02/13/2012 03:18 AM Report Abusive Post Report Copyright Violation | It is simple. If the debt is in USD, nothing changes for you in the USA. The creditor who the dollars are owed to, will receive much less for the same number of dollars. But if you in the USA want to buy imported goods, say a Ferrari car, than the umber of dollars you need to put on the table is shooting up. |
Anonymous Coward User ID: 5073312 United States 02/13/2012 03:24 AM Report Abusive Post Report Copyright Violation | |
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Xerces User ID: 4708151 United States 02/13/2012 03:51 AM Report Abusive Post Report Copyright Violation | They need to crash the economy before that happens me thinks. Don't hold it against me though, I'm no economist. "A truth's initial commotion is directly proportional to how deeply the lie was believed. When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker, a raving lunatic." -Dresden James "All truth passes through three stages. First, it is ridiculed, second it is violently opposed, and third, it is accepted as self-evident." -Arthur Schopenhauer |
Graylien User ID: 975226 Netherlands 02/13/2012 04:21 AM Report Abusive Post Report Copyright Violation | You will be able to pay your debts easier, but you won't be able to buy food or gas (it will be too expensive). Of course that is assuming you still have a job by then. Quoting: Anonymous Coward 5073312 NONSENSE... You still have to pay your debts, and if you don't get a raise in income, it won't be easier... For goods that are imported prices will shoot up. That's all folks... |
Anonymous Coward User ID: 10309673 United States 02/13/2012 04:24 AM Report Abusive Post Report Copyright Violation | 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). |
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