Step 1: max out all your credit cards and buy guns, gold and silver.
Step 2: never pay back the credit cards and watch your credit score plummet.
Step 3; who cares a credit score will be meaningless in the next few years.
Think about it. When the dollar collapses an 800 credit score won't mean shyte but all the guns, gold and silver you bought will allow you to live like a king.
All you people who still have a job and never missed a beat should seek legal council so you can stop making you mortgage payments for two years and have the ability to now go out and get a house real cheap..That will really help our country.....just expect the government to 'take care of everything' and see what happens...wanna start a revolution?....start paying for what you take!....
@carl16760 I dont expect the gov to do anything for me. I pay my way and complete my obligations......yes I am still working but it that my fault??? I won't walk away from my mortgage just because my house is now worthless than what I owe just so I can buy a cheaper house and scam the system.....that's BS
I think getting out of debt will help our country. Isn't this what everyone needs to care about....helping ourselves...It also gives you room if you need help, rather than having already maxed out cards. I also think if you have intentions on buying anything big....charge it now if you have to....b4 the real inflation kicks in...part of preparation thoughts there!
I guess my concern is having a large balance in the bank and when all of the shi* hits the fan not being able to get to that money. I don't know how everything will go down but I don't trust the banks. Look at this stuff with WIKI Leaks and a certain bank. I just don't feel comfortable, I'd rather spend it toward something (debt) than let it become unattainable.
I see getting out of debt is very very important because as prices go up on food taxes healthcare etc, I will have an extra bit to keep me afloat longer
and I will have money to live on while the spending sheep are crying
It's all about profile and exposure to the system. The idea would be to be debt-free when things are going well and you aren't pressed to fight against inflation with a devaluing dollar, such as today. I've been debt-free for nearly a decade with all property, vehicles and the like without encumbrance. This has allowed me, with foresight or course, to buy nicely into silver when prices were less than half of what it is now. It also allowed me to put up supplies in case of hyperinflation.
Never made a mortgage payment in my life. Bought my first house for £20,000, cash i saved whilst in the Army and never looked back.
To be honest i have never even owned a credit card (my wife does for business but not me) so my 'credit rating' must be abysmal.
A home is an investment in your family and not something to be bought and sold for a quick profit, if you want to do that then invest in appartment blocks and make money there through a rent cheque each month i.e. passive income.
It depends on who your talking to When you ask when the collapse will come.. For Blacks in America unemployment is at 41% so we are already living the collapse. Allot of people just walked away from their homes and move in with relatives some homes now have 3 generations living under one roof .. Just make sure you pick the biggest house to save and everyone move into......See u when u get here to the collapse its starting to get crowed !
Because the banks own more houses than anybody and since the government has been willing to protect the banks interest (with bailouts) it would be foolish to think that it would not find some way of protecting the banks in the future.
The collapse? Russia is already out of the dollar market, China is trying to bail, some Mexican Banks won't accept U.S. Dollar deposits, there are stores in Manhattan accepting Euros, and some small communities in the U.S. have started trading in their own local currency.
The collapse? It has been happening while we watch. By this time next year, the Fed won't be able to print "funny" money
Dont bother at this point in time paying off your debts. The system is so corrupt, they will take your home more likely if it is payed off. They are thieves and con men. No better than a maffia. If we have infaltion, sure, your debt will be what you could get a lof of bread for. Theres no point having a load of empty homes, and noone to sell them to, unless they plan to give them to chinese for free.
In understanding collapse from historical point of view.Fiat currency has a time line in which it operates. Now the key to currency having value is to make humanity that it is a asset. But once fiat currency crosses the time line in which it changes and they go back to metals this is a process that has been going back and forth for aeons of time.The pendulum is swinging back to pm. The sooner you get in the richer you become when the pendulum takes its final swing to pm away from currency
few people can afford their home payment now, most lost their job or took a BIG haircut. So your a rarity these days. just be thankful you enjoy your home and get the DEED so you don't get a bank straight up stealing your home.
IMO: I do not think we are going to see hyperinflation for awhile. Inflation, yes, it is happening right in front of us and will continue to do so. One may have trouble making $2000 house payments when energy goes ERON and when food prices double, and gas $8, but your income will stay the same if you lucky to have a job..
Getting out of debt is great, but, if you KNOW there will be hyperinflation, which would shrink the value of what you owe, it would make sense to not pay off the debt until hyperinflation set in, assuming your salary would be adjusted for the inflation. Imagine you bought a house back in 1960 for $30K, your payments are on 30K, but come 2010, you probably make double or triple that a year in salary, etc., would be easy to pay it off because of the inflation of your salary, and static mortgage
The idea is this, you borrow 100 dollars in 2010 prices and promise to pay back 5% a year for 30 years, so 5 dollars a year. If the real value of the dollar drops to 50% (an unrealistic ungodly amount) your payments of 5 dollars is actually in real terms 2.5 :) WIN WIN! :) Guess who the US owes 1 Trillion dollars too and at 5%?
They are printing money out their eyeballs because of several reason, Keynesian economic philosophy and also to control inflation (not contain inflation mind u).
@wakeupbreathing I think its more complicated than that though. China does play a part in the equation but the larger picture is the US just bought up 3.3 Trillion dollars in "bad" loans/debt from the failing world banks to stabilize them (see Fed released papers). To cover those "loans/debt" it has to create an enormous amount of capital or they will "default". One way to pay off those loans and also lower the real interest rate (peg to the dollar) is yep print more dollars..
@ddnguyen278 yes I totally forgot about the crap we bought up to help foreign banks....we are really screwed over all. I see no way this all turns out good.
@wakeupbreathing Consider that faced with a choice to total economic collapse or slow economic collapse with a "small" possibility of recovery they choose to go the slow collapse route.. However they are gambling and doubling down , using the debt as collateral.. funny but coincidentally as Americas economic star settles over the horizon, 2 new stars are rising in the East (China and India), which will fund a economic boom likes of which has never been seen.. so who knows :)
personally i think getting out of debt is a good thing , i believe it has to do more with the coming mark of the beast the bible warns about .. then anything
Go into debt for sure.
Step 1: max out all your credit cards and buy guns, gold and silver.
Step 2: never pay back the credit cards and watch your credit score plummet.
Step 3; who cares a credit score will be meaningless in the next few years.
Think about it. When the dollar collapses an 800 credit score won't mean shyte but all the guns, gold and silver you bought will allow you to live like a king.
Steve2323ZX 1 year ago
All indications are, that a deflationary depression, is coming. Check out Michael Hudson on the real news network.
ANTIDALLARD 1 year ago
All you people who still have a job and never missed a beat should seek legal council so you can stop making you mortgage payments for two years and have the ability to now go out and get a house real cheap..That will really help our country.....just expect the government to 'take care of everything' and see what happens...wanna start a revolution?....start paying for what you take!....
carl16760 1 year ago
@carl16760 I dont expect the gov to do anything for me. I pay my way and complete my obligations......yes I am still working but it that my fault??? I won't walk away from my mortgage just because my house is now worthless than what I owe just so I can buy a cheaper house and scam the system.....that's BS
wakeupbreathing 1 year ago
I think getting out of debt will help our country. Isn't this what everyone needs to care about....helping ourselves...It also gives you room if you need help, rather than having already maxed out cards. I also think if you have intentions on buying anything big....charge it now if you have to....b4 the real inflation kicks in...part of preparation thoughts there!
carl16760 1 year ago
I guess my concern is having a large balance in the bank and when all of the shi* hits the fan not being able to get to that money. I don't know how everything will go down but I don't trust the banks. Look at this stuff with WIKI Leaks and a certain bank. I just don't feel comfortable, I'd rather spend it toward something (debt) than let it become unattainable.
pwchinacat 1 year ago
i pay as much as i can. i think the government will find a way, the only way out maybe is to disolve your tin/ssn numbers
jorge4title 1 year ago
@jorge4title we do also...interesting take on the SSN. Maybe when they chip us all then no need for a SSN anymore.
wakeupbreathing 1 year ago
Comment removed
jorge4title 1 year ago
This has been flagged as spam show
@wakeupbreathing all of us would have go off the grid
jorge4title 1 year ago
@jorge4title no I meant that after chipping there may be some other number than the SSN
wakeupbreathing 1 year ago
Comment removed
carl16760 1 year ago
I see getting out of debt is very very important because as prices go up on food taxes healthcare etc, I will have an extra bit to keep me afloat longer
and I will have money to live on while the spending sheep are crying
visionseeker50 1 year ago
It's all about profile and exposure to the system. The idea would be to be debt-free when things are going well and you aren't pressed to fight against inflation with a devaluing dollar, such as today. I've been debt-free for nearly a decade with all property, vehicles and the like without encumbrance. This has allowed me, with foresight or course, to buy nicely into silver when prices were less than half of what it is now. It also allowed me to put up supplies in case of hyperinflation.
stevesmitty79 1 year ago
@stevesmitty79 that is a definite plus.....is stevesmitty for steve smith?
wakeupbreathing 1 year ago
@wakeupbreathing Steve is correct, otherwise it's a pseudonym from my old gunboard days. Can't be too careful.
stevesmitty79 1 year ago
@wakeupbreathing just wondering if we had the same name....
wakeupbreathing 1 year ago
it started in 1933
gotsilver77 1 year ago
Never made a mortgage payment in my life. Bought my first house for £20,000, cash i saved whilst in the Army and never looked back.
To be honest i have never even owned a credit card (my wife does for business but not me) so my 'credit rating' must be abysmal.
A home is an investment in your family and not something to be bought and sold for a quick profit, if you want to do that then invest in appartment blocks and make money there through a rent cheque each month i.e. passive income.
stuartsbushcraftblog 1 year ago
It depends on who your talking to When you ask when the collapse will come.. For Blacks in America unemployment is at 41% so we are already living the collapse. Allot of people just walked away from their homes and move in with relatives some homes now have 3 generations living under one roof .. Just make sure you pick the biggest house to save and everyone move into......See u when u get here to the collapse its starting to get crowed !
916edward 1 year ago
i already stopped paying my credit cards,just pay the mortgage
fhattest 1 year ago
Because the banks own more houses than anybody and since the government has been willing to protect the banks interest (with bailouts) it would be foolish to think that it would not find some way of protecting the banks in the future.
DEMCAD 1 year ago
The collapse? Russia is already out of the dollar market, China is trying to bail, some Mexican Banks won't accept U.S. Dollar deposits, there are stores in Manhattan accepting Euros, and some small communities in the U.S. have started trading in their own local currency.
The collapse? It has been happening while we watch. By this time next year, the Fed won't be able to print "funny" money
stansberryresearch(dot)com/pro/1011PSIENDVD/EPSILC52/PR?o=221117&s=223654&u=28999893&l=192197&r=Milo
grizzzlyjoe 1 year ago
Dont bother at this point in time paying off your debts. The system is so corrupt, they will take your home more likely if it is payed off. They are thieves and con men. No better than a maffia. If we have infaltion, sure, your debt will be what you could get a lof of bread for. Theres no point having a load of empty homes, and noone to sell them to, unless they plan to give them to chinese for free.
sallyos06460 1 year ago
@sallyos06460 yep might as well just deal with whatever comes up....besides we can live in our camping trailer if need be
wakeupbreathing 1 year ago
In understanding collapse from historical point of view.Fiat currency has a time line in which it operates. Now the key to currency having value is to make humanity that it is a asset. But once fiat currency crosses the time line in which it changes and they go back to metals this is a process that has been going back and forth for aeons of time.The pendulum is swinging back to pm. The sooner you get in the richer you become when the pendulum takes its final swing to pm away from currency
djoh652864 1 year ago
U wanna get out of debt, because when martial law comes, they cant say that they own u...
Cause if u have debt then, then they can grab u, chip u, and put u in labor...
If u have debt, u r owned. If u dont, u r free.
zimzimmma 1 year ago
It's always better not to owe. I got to go get my dog he is rolling in something bad. Hahahaha! Yea you need to give him a bath now. Hahahaha!
AJSensei 1 year ago
@AJSensei yeah he found some kind of crap to roll in.....I have seen him roll on a dead earth worm.
wakeupbreathing 1 year ago
@wakeupbreathing That's what dogs do. Hahaha! I had many dogs and they will do it every time.
AJSensei 1 year ago
few people can afford their home payment now, most lost their job or took a BIG haircut. So your a rarity these days. just be thankful you enjoy your home and get the DEED so you don't get a bank straight up stealing your home.
odin422 1 year ago
@odin422 If something happened and they want the house we already plan to just live in our travel trailer we go camping in.
wakeupbreathing 1 year ago
This has been flagged as spam show
@wakeupbreathing Palestinians we shall all become.
odin422 1 year ago
I do not think it will make a difference one way or another. A total collapse might mean Jubilee but the money saved will be worthless anyhow.
ManFaded 1 year ago
@ManFaded I guess that's why some acquire PMs....just in case they truly are a store of some amount of wealth
wakeupbreathing 1 year ago
@ManFaded Jubilee, ha that's a fantasy. Debt will stay, pay will fly away. Be your own bank!
odin422 1 year ago
IMO: I do not think we are going to see hyperinflation for awhile. Inflation, yes, it is happening right in front of us and will continue to do so. One may have trouble making $2000 house payments when energy goes ERON and when food prices double, and gas $8, but your income will stay the same if you lucky to have a job..
TheLiddlekiddle 1 year ago
@TheLiddlekiddle I can see that scenario and true is food and fuel go ballistic and my income does not go up as fast I could be hosed.....thanks
wakeupbreathing 1 year ago
Getting out of debt is great, but, if you KNOW there will be hyperinflation, which would shrink the value of what you owe, it would make sense to not pay off the debt until hyperinflation set in, assuming your salary would be adjusted for the inflation. Imagine you bought a house back in 1960 for $30K, your payments are on 30K, but come 2010, you probably make double or triple that a year in salary, etc., would be easy to pay it off because of the inflation of your salary, and static mortgage
duanescot 1 year ago
@duanescot true...but we bought the house in 2000...pay has gone up but not as fast as everything else.
wakeupbreathing 1 year ago
The idea is this, you borrow 100 dollars in 2010 prices and promise to pay back 5% a year for 30 years, so 5 dollars a year. If the real value of the dollar drops to 50% (an unrealistic ungodly amount) your payments of 5 dollars is actually in real terms 2.5 :) WIN WIN! :) Guess who the US owes 1 Trillion dollars too and at 5%?
They are printing money out their eyeballs because of several reason, Keynesian economic philosophy and also to control inflation (not contain inflation mind u).
ddnguyen278 1 year ago
@ddnguyen278 China?
wakeupbreathing 1 year ago
@wakeupbreathing I think its more complicated than that though. China does play a part in the equation but the larger picture is the US just bought up 3.3 Trillion dollars in "bad" loans/debt from the failing world banks to stabilize them (see Fed released papers). To cover those "loans/debt" it has to create an enormous amount of capital or they will "default". One way to pay off those loans and also lower the real interest rate (peg to the dollar) is yep print more dollars..
ddnguyen278 1 year ago
@ddnguyen278 yes I totally forgot about the crap we bought up to help foreign banks....we are really screwed over all. I see no way this all turns out good.
wakeupbreathing 1 year ago
@wakeupbreathing Consider that faced with a choice to total economic collapse or slow economic collapse with a "small" possibility of recovery they choose to go the slow collapse route.. However they are gambling and doubling down , using the debt as collateral.. funny but coincidentally as Americas economic star settles over the horizon, 2 new stars are rising in the East (China and India), which will fund a economic boom likes of which has never been seen.. so who knows :)
ddnguyen278 1 year ago
i've asked that question myself why ?
mustangersalie 1 year ago
@mustangersalie now we can see what people say from the comments
wakeupbreathing 1 year ago
God knows . . . and knows YOU too.
MichaelHodgson 1 year ago
@MichaelHodgson I know...that's why I'm not really worried about what's coming. I worry about my family though.
wakeupbreathing 1 year ago
It's probably the only way we'll pay of China, by hyper-inflating.
EMPIREofPUPPETS 1 year ago
@EMPIREofPUPPETS I think they will dump our treasuries before that...
wakeupbreathing 1 year ago
personally i think getting out of debt is a good thing , i believe it has to do more with the coming mark of the beast the bible warns about .. then anything
RailRoadCar9 1 year ago
@RailRoadCar9 good point....didn't think of that
wakeupbreathing 1 year ago