3. Prepare for possibility that the U.S. makes it illegal to own or sell gold/silver coin, so to get Federal Reserve Notes in exchange will have to be a clandestine operation.
Remember, you can think all this through but there will be new roadblocks and don't count on anything the government doing actually benefitting your situation.
1. Don't think for a minute that the bank that holds your mortgage will allow you pay off said mortgage with a wheelbarrow full of money. That's too easy. Expect laws put in place to "discourage" this. OR the entire US mortgage industry is nationalized and you'll pay some kind of equivalent rent to stay there.
2. Even if you could do the above, 999 out of 1000 mortgage holders will be selling everything they own just for food and/or gas, making...
Let me tell you why what you are suggesting is not going to work. Lets say you debt free. Lets say you own your own home. If the dollar becomes worthless (and I believe it will) you still can lose your house. How? simple. property taxes on your house will be the way to take it from you. In fact property taxes is the number one reason why so many family farms have been lost. Imagine now your house is worth a billion dollars. How much will it cost you for property tax?
If your house is worth a billion dollars your local municipality would have stopped accepting Federal Reserve Notes a long time ago, not to mention under such a scenario it will literally be hell on earth. Plus, what policeman is going to enforce eviction? They will all be dealing with their own problems.
actually paying off your mortgage a moot point.
3. Prepare for possibility that the U.S. makes it illegal to own or sell gold/silver coin, so to get Federal Reserve Notes in exchange will have to be a clandestine operation.
Remember, you can think all this through but there will be new roadblocks and don't count on anything the government doing actually benefitting your situation.
Trazom24 1 year ago
A few points. Overall good video.
1. Don't think for a minute that the bank that holds your mortgage will allow you pay off said mortgage with a wheelbarrow full of money. That's too easy. Expect laws put in place to "discourage" this. OR the entire US mortgage industry is nationalized and you'll pay some kind of equivalent rent to stay there.
2. Even if you could do the above, 999 out of 1000 mortgage holders will be selling everything they own just for food and/or gas, making...
Trazom24 1 year ago
Let me tell you why what you are suggesting is not going to work. Lets say you debt free. Lets say you own your own home. If the dollar becomes worthless (and I believe it will) you still can lose your house. How? simple. property taxes on your house will be the way to take it from you. In fact property taxes is the number one reason why so many family farms have been lost. Imagine now your house is worth a billion dollars. How much will it cost you for property tax?
AEKARA27 2 years ago
Either the property taxes will be removed or maybe that's where the gun comes in bud!
starlitopensky1 2 years ago
If your house is worth a billion dollars your local municipality would have stopped accepting Federal Reserve Notes a long time ago, not to mention under such a scenario it will literally be hell on earth. Plus, what policeman is going to enforce eviction? They will all be dealing with their own problems.
Trazom24 1 year ago
Excellent Video and Advice! ★★★★★
KASPLARFO 2 years ago
Glad I can help!
starlitopensky1 2 years ago