Paying off a home

The Gig Is Up - Money, the Federal Reserve, and You
http://video.google.com/videoplay?docid=-4020719354420953428&ei=mlSGScqnH...

www.goldforum.com

"I believe that banking institution are more dangerous than standing armies... If the American people ever allow private banks (Federal Reserve) to control the issue of currency... the banks and corporations that will grow up around them will deprive the people of there property until their children wake up homeless on the continent their father conquered"
Tomas Jefferson 1743-1826

Category:

Education

Tags:

• Collapse
• Crisis
• Dollar
• Economic
• Financial
• Gol
• Hyper
• Hyperinflation
• inflation
• Jim
• Mint
• Paul
• Perth
• Peter
• Rogers
• Ron
• Schiff

[PiercingKnight]

R u saying I should pay only minimums of my loans and buy gold and silver instead, then wait till the dollar worth of those metals go 10 fold, then use that money to pay off the loans??? Because the loans are staying at a fixed dollar amount. If that's what it is, Holy Shit. Doesn't it make sense now that right now is a perfect time to get loans then??? I mean I'll just pay minimums on it then and wait till my metals go ten fold and pay for it then because the dollar amount of loans stayed fixed

[davincij15]

@PiercingKnight

The reason you need a loan is cuz the products are too expensive. If you just buy silver and gold you will buy a bigger and better product in the future for less. This is because to many people use debt and can't pay.

[PiercingKnight]

@davincij15 But is it going to be 10 fold cheaper? Forgive my ignorance on the subject I'm trying to learn, but I mean the loans that people already have today, they can just buy silver then wait till silver dollar value goes something like 10 fold then get dollars and pay the loan back. You will only end up paying about 10th of that loan. But if one just buys silver and waits till it goes 10 fold to buy things, the buying power will be the same as it was at the beginning. Is that right? Thanks

[davincij15]

@PiercingKnight

No, things purchased with credit will go down in value extremely fast because most people will not have any money or credit to buy those items thus how will someone sell it except with a lower price. The price homes in your area are function of people able to borrow and pay the monthlies.

[davincij15]

@PiercingKnight

You should take the time to read about hyperinflation. Yes you could borrow and pay back but that's all has to done with good timing as well.

At one point in Germany you could buy a city block and all its buildings for one oz of gold.

[RockyMountainPrepper]

@davincij15 Great answer. I too reached this conclusion on my own, and am glad to see this video reaffirming the position.

[freetubester]

The economy is controlled by THE BANK. This depression will only be done when they have their One World Government.

[quietlike]

@PiercingKnight A new currency will revalue the dollar downwards because there are unlimited dollars, and revalue real assets, like gold/silver higher because it's supply is limited. So anything denominated in dollars will lose value against items of value like, food, energy, gold/silver.

[quietlike]

@PiercingKnight The key is you have to be able to pay minimums, so getting overleveraged can be dangerous.

A 0% credit card for a year... That doesnt seem so bad to me. You run into problems between buy/sell premiums, but if you can afford the minimums, you can walk away with a few ounces when you have to sell off to pay the principle in full when the interest kicks in. I have seriously considered this. And I think its a nice way to use the fiat system against itself. Free money!

[quietlike]

@PiercingKnight a mortgage most likely has a lower interest rate than a credit card or other type of loan. Say a 0% credit card for a year... That doesnt seem so bad to me. You run into problems between buy/sell premiums, but if you can afford the minimums, you can walk away with a few ounces if you have to sell off when the interest kicks in. I have seriously considered this.

[PiercingKnight]

Guys what is going to happen to the retirement dollars in 401k, should I pull that money and buy silver with that, or is it worth it waiting and exchanging it to new currency, what is the advice. Thanks.

[captainterrible525]

** in most states mortgages are a non-recourse loan, in some states you can be sued. However we do not have debtors prisons (yet) & it's harder but U can file bankruptcy. We are conditioned not to do this but what is the poing of paying for a house U don't live in. Also, you never truly own your home. some Retired people have lost their homes because property taxes were raised.

[captainterrible525]

@PiercingKnight Please read "Conspiracy of the Rich" by Robert Kiyosaki. It's his latest book. davinci is telling you all some real stuff. But there is good debt and bad debt, and Kiyosaki does a good job of explaining the difference. Also, by the time you pay just minimums on your houise, you will have paid about 3x the principle. Start a home based business so & can write some of it off, put that savings toward principle. good info on youniversal.blogspot

[PiercingKnight]

@davincij15 True I c what u mean purchases with credit will have to go down because most people will not have any money left and will not have precious metals either. They will lower prices and it will be easy to buy for those who have precious metals. But r u sure it will go down much because isnt it the whole purpose of this collapse to bankrupt people so that those who have no metals wouldn't be able to buy much and go 3rd world? I know products at stores will go up in prices  why not credit