What Happens To Your Debt When The Dollar Collapses
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- Опубликовано: 29 май 2024
- What happens to your debt when the dollar collapses? Will it be forgiven or repriced, and will you even be able to pay it back in the event of hyperinflation?
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Gold is the money of Kings Silver is the money of Gentlemen Debt is the money of slaves.
Good thing I own all 3 😎... well actually 2 lol
That's why most business people have det and can do whatever they want. And most blue colored workers have gold hidden under their pillows. And they have to go to work every day.
Okay
@@richpickard1680blue collar here, i sleep pretty damn good on my 20 year old mattress
Well said, very true
If the dollar collapses don’t be fooled your debts doesn’t disappear, they add it back to the new currency or mode of barter. best advice get outta debt. make regular investments be debt free and financially stable
I believe every Investor should start with ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
Amber Dawn Brummit, is respected in her field. I suggest delving deeper into her credentials, as she possesses experience and serves as a valuable asset.
She looks to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Withthe economy tumbling, Inflation Soaring, Is the stock market actually getting better or could this be the regular new year market manipulation to entice new investors? I'm currently sitting on $500k inheritance and just wondering what better assets than stocks to invest in right now
You need a certified financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but am comfortable in my financial environment
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
Amazing! I hope it's okay to inquire if you're still collaborating with the same fiduciary and how I can get in touch with them?
Her name is “ Sonya Lee Mitchell” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
With the economic difficulties the nation is currently facing in 2024, what plans can we put in place to support our income while we adjust to this time period? I'm determined not to see my $500K in savings disappear, especially after all the effort I've put into building them up.
Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals, but you need to be a skilled practitioner to carry out such successful transactions.
Indeed, that's accurate. I've been in contact with a financial advisor who manages the entry and exit strategies for my portfolio, which started with an initial reserve of $80K and has since grown to around $550K.
I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.
Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
Dollar IS collapsing & so is Amerizuela. Just lost Petro Dollar too & it made almost no news. LMFAOOOO
Why is that funny though, psychopath?
The dollar is increasing in value. What planet are you from? The dollar has become stronger vs all other currencies over the last decade, and there is no chance in a change with the peteo-dollar in our lifetime
@@daledelatte9607I don’t know what your smoking but we are going through hyper inflation and right now the euro is worth more 😂
@user-kx6iq7lk7t are you one of those reality deniers? Inflation is at 3%, don't know what you're smoking, but that's not even in the "hyperinflation" discussion 🤣
@@daledelatte9607 you are dumb!
I think paying back a car loan will be the least of peoples concerns when the dollar collapses.
I agree.So many people are having to pay bills with credit.Its going to be the least if worries They will go with UBI worldwide soon
@kimberlysmith9499 those that need to get their debt forgiven to get the Ubi will have to sign their soul away to the government and get vaccinated and not be able to own stocks or property.
You all seem to think the goverment will survive same as banks hello if it collapses everything will collapse period debt will be the last thing on your mind
A carefully chosen mix of assets can reduce association with debt. I stopped following guru advice and started doing my own research. The first result was a $1.1 million return in 10 months. It's been three years since my credit cards were canceled.
Your mention of returns raises a question for me. How do you distinguish between research driven results and plain luck? The role of luck is often downplayed in investing
when it's consistent, it goes beyond luck. research was the challenge till it led to Emily Ava Milligan, a top fund manager, her strategy made 310k into this and counting.
I pasted her name into my browser, and her website popped right up. From our interaction, it became clear she's in high demand. Your example is rare, i wish i had it to reference earlier, thanks
Similar to yours. I'm on track again for 135 k return, working with Emily Ava Milligan sets a high bar. I hate to be a stickler, her results are apparent in no time
Successful investing/trading is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
I agree. I have pulled in more than $435k since 2020 through my advisor. It pays off more in the long run to just pick quality stocks and ride with those stocks.
Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems.
'Marisa Michelle Litwinsky is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Debt can never be extinguished with debt instruments; it can only be discharged, which is why debt always increases because the interest is not put into circulation. Only gold and silver can extinguish debt. Since the whole system is a pyramid scheme, having a jubilee would make more sense. If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered. Thomas Jefferson
It’s a Ponzi scheme so Ponzi schemes can’t be tapered they can only get exponentially bigger or implode that’s it
Well stated...!!
That's happening now.
Conquered? Native Americans were NEVER conquered! Why agree with so-called "the WHITE fathers" who used fatal means to wipe out the aborigines of my ancestral lands? Some Native tribes were annihilated via germ warfare and subjected to forced removal and coerced assimilation. Americans live on stolen land. We never sold or gave our land away. How can one sell the bones where our loved ones are buried?
Yes, just accept the cbdcs. And we will will dismiss your debt.
If the currency collapsed it would be total chaos and the last thing on everyone’s mind would be there debt
Exactly. When those government entitlement checks don’t light on the beginning of the month, people will go completely berserk. Never underestimate the lunacy of the human race particularly the American variety.
Been getting Rid of my DEBT for 29 years Done it 5 times
@@ericnichols9275his point is, people on entitlement programs won’t get their checks or deposits. These people don’t care about debt, they only know mother f’er better have my money.
@@ericnichols9275
Cool, buy another house?
@@joekeegan-yc4nm why I'm going to INHERIT my mom's house and sell it faster then most people because I've had enough of living in the MIDWEST
If the dollar collapses the last thing I’m worried about is personal debt. I think WW3 happens first
They're working very hard to get as many people in debt as possible. They have a very specific plan in place on what it will take to get your debt forgiven and you'll have to basically sign your soul to them. You will have to be vaccinated and sign away the rights to own property or stocks (like they do in Canada's debt forgiveness programs). They have a complete plan that they are implementing right now regarding World War III and they're doing everything they can to get everyone in debt for a reason. It's not just going to go away.
It has already started
Haven't you notic3d. We're already in it. No trenches this time.
@@debbiehanisch2099 in some places in Europe they have dug trenches.
35 TRILLION IN NATIONAL DEBT AND 18 TRILLION IN CONSUMER DEBT ! Most will never be repaid !
Yep. It's growing exponentially.
I think they'll come a point when ppl will simply say no to paying student loans and credit cards .they'll basically have to come and jail everyone .
@@charlebrowngacan't jail you for credit card debt but can take your assets/income with a judgment. Student loans are never dischargeable, even in bankruptcy
@@pinschrunnernot really student loans go away after 20 years of payments. Or PSLF or new legislation or executive order. Credit card debt can’t be collected after statute passes. Judgements can be fought or made un collectible…🎉
An indentured serf type of existence might appease the banks?
Over consumption on credit card debt I beg to differ. There are many people who did not have credit card debt until the necessities became unreasonably priced. I used to be able to pay off my credit card every month every week. Now I can't afford groceries. Over consumption my butt!!!
Thank you government and rich bankers.
Yes, this RUclipsr is talking out of his ass. Credit cards are easy to stop paying. Just stop paying. See what happens. I've had at least 10 credit cards not even pursue me to collect. So, you have bad credit for awhile. The plus is you will stop getting all the junk mail offers for new credit cards. 🤠
@mindfulmaximalism are you able to get new lines of credit or new loans after defaulting on your previous credit card debts, or no?🤔
@@willia3r Yes. Defaults on CCs fall off your credit reports in 7 years. Statue of limitations vary by state, but are 3 years in my state. This means if they have not sued you in this time period, they cannot collect so long as you haven't paid them anything or said you would pay them anything. If you give them any money or make plans to do so, the statue of limitations starts over. Just don't pay them, and never talk to them. People do it all the time.
@@willia3r Oh brother. Not a good idea. Don't pay your credit card & default, your car insurance goes up, house insurance amount goes up, Banks won't look at you twice for a loan.
It feels the Govt are going to lose control this time. we are going to dirt level. On the brighter side I have to seek ways to stay on top of things, I wish to diversify my assets by investing in ETFs/index funds/mutual funds and stocks of corporations with stable cash flows. I received 350k from the selling of my El-Paso property. What should I do?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
Right, a lot of folks downplay the role of advisors until being burnt by their emotions, no offense. During the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my portfolio has grown by 25% every quarter since Q3 2020.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
im just adding everytime it dips for a few days straight. Been doing this since last summer.
I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "AMBER KAY WRIGHT" I've worked with her for 9 years and highly recommend her. Check if she meets your criteria.
Get Biden to forgive all debt before he get voted out 😂 what’s the worst that can happen?
😅❤❤❤
Look what happened in Zimbabwe. As hyperinflation kicked in rentals increased and people paid their mortgages off within months and then sat back and reaped the income from property.
US can be compared with Zimbabwe. Zimbabwe can recover faster....make no mistake. Totally corrupt political system. Lobby =bribery = corruptions. Legalised corruptions. Most corrupt political system on earth. No matter who gets elected....outcome will be the same.....the whole state is still going downhill. It's not who. It's the whole system. Rotting away bit by bit.
Love it.
❤
Won't work in the us.black rock and vanguard will buy it all up as it goes onto the market.
Oh for real? I saw another creator on here talking about how inflation could make it “somehow” easier to pay off debts. They didn’t bring up Zimbabwe though, but that is definitely something… 🤔💡
People will revolt in the streets if the government "re-evaluates" currency.
Which is why they aren't talking about the collapse of the dollar on the news period.
Like they revolted when told to inject themselves with poison?
Thats exactly how they will react@@fullclipaudio
It will just happen one Friday after hours.the banks will close come next Monday or Tues the cbdc will be rolled out.most ppl will have any clue its coming.all there pensions savings 401k WIll just evaporate overnight. Won't be able to get a check cashed and atms will limit you to probably like 50 bucks in withdrawal.
It's coming regardless!
WHEN.....not IF.
i’m not paying that shit back 🗣️🗣️🗣️
Or you won’t be able to get a loan
Hahaha the dollar collapses my and my buddies are becoming a gang of mad max style raiders
@@sevenguardians7517 ok keyboard warrior
@@sevenguardians7517 if the economy collapses who is gonna be thinking about a loan?
@@sevenguardians7517 it’s all fake anyway. so do what you must…you and your buddies.
@sevenguardians7517 if your rich, from your assets, you won't need a loan if your credit score is shit.
Credit scores are for plebs
File Bankruptcy if you can't pay your BILLS ! It can save your house and car and wipe out your credit card debt ! call a Bankruptcy Attorney !
100% great advice. And do it before you destroy your credit. A bankruptcy doesnt destroy your credit, what destroyes it is you making several months of late payments rather than understanding your bankrupt. Bankrupt is a financial tool for you to use, use it if you need it.
Theyll ban bankruptcy and bring back debtors prisons in an economic collapse.
Can't file bankruptcy on student loans
@@bradjon7231 TRUE
@@nicholassmith7723 TRUE - unless you become disabled ,
Never owe more than you can pay.
Bingo
.....Until your car breaks down and you have to pay for expensive repairs, you need unexpected work done on your home, unexpected medical expenses come up, etc....
@@Denise6000-cs4mo*emergency savings
@@Denise6000-cs4moexactly. That's why a lot of millennials and zoomers gave up. There isn't any end.
Protect yourself with silver and gold
This guy has no idea what he's talking about. $34.8 trillion in debt, and claims everything is fine because gdp is higher than interest payments...
Most of our GDP is fake and most of the tax money coming in atm is going toward paying the interest on the debt they racked up via spending and printing money
Servicing that debt is now $1.1 TRILLION annually. And growing of course.
The US has massive debt but because they're the reserve currency, they are passing the issue onto the world because they trade in it. Which is also why Saudi Arabia dropping the US dollar for all oil trades is massive.
Nailed it. Brics was designed to end the US dollar, Americans are totally f-ked.
This is probably a lot of countries like China and Japan are either allowing their United States Treasury bonds to mature and not buy anymore or are simply selling them off before maturity.
The massive dollars that are/will be returning to the USA soon will cause a whole lot of hyperinflation down the road.
So how does Briccs fit in this… if they do come with a Currency that’s supposed to be backed by gold… tech… & something else… as opposed to the debt based dollars… isn’t this the problem???
@@ChillScrillOfficial BRICS just allow the participating countries to pay with whatever currency they want. They are doing this because the US has weaponized the US dollar by using it in sanctions. This allows countries to bypass US sanctions.
When the hyper-inflation happens you take some of those 1000 dollar bills they start paying you and you pay back all of your debts and get receipts before the funny money gets replaced with a new variety of funny money. Pay it all back, or default and declare bankruptcy, before the currency gets replaced.
yeah it's a timing thing
@@bennycarter5249 Yep, sad as it may be, time it wrong and you are screwed, time it right and you come out ahead (or at least not completely destroyed).
I literally just sold my home 6 month ago and cleared ALL debt except for my new mortgage at 4.1 interest rate because it was new build . I can say it is an amazing feeling and the way my money flows now, it works for me and no one else, it will be very difficult for me to incur new debt because this financial freedom is amazing…I don’t see myself ever going back to the world that takes up all my funds. Live below your means and there is true wealth in the long term.
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks this year. Hope to make millions in 2024.
Since risk is at an all-time high right now, perhaps you should be a little more patient but remember the bigger the risk the bigger the results. Alternatively, you can consult a trained financial expert for strategy.
You're right mate! I’ve been using a fin-market expert for two years now and I own a 7figure diversified portfolio from investing in stocks. Currently, my portfolio is worth over $800k.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
LAUREN MARIE EHLERS is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Debt Jubilee coming 😅
It would be great but I think you’re dreaming.
@@joynichols4002 its what we accept, unity
@@joynichols4002it will be a trade. Debt erased if you agree to participate in the new financial system. (Read between the lines)
One of the problems is that the government is not recognizing the real inflation rate. This causes pay or SS increases less than they should be which puts people further behind.
The federal reserve(private banks) and the gov. know what real inflation is. Their 2% inflation mark has been a number they have made up. The more they print the more we have inflation. The fed's job is to hide all true numbers of our economy, so the gov doesn't look so bad. This is the game they have always played. Remember they have made up the rules, policies, regulation, and laws to benefit themselves. They have never given the true cost of living COLA to those on SS.
Oh they know! They planned it!
the contracts signed are contracted in US dollars. if the currency gets repriced into something else then that contract needs to be resigned stating such.
If US dollars become worthless and people are using it to wallpaper their houses then we could collect those abundant worthless dollars and pay contractual loans back IN FULL because thats what all parties agreed to in the contract.
It’s a pretty simple concept to understand, with ever increasing inflation debt becomes a lot easier to pay back
The simplest way to put it.
Hmmmm, interest rate change.
If the USD were to collapse. Everything would be repriced in the new Fed coin. Gold , Silver , BTC , Ammo. would probably be unobtanium. Maybe $50k Gold , $5k silver , $10M Bitcoin. Banks would surely try to seize assets if you cant pay the loan when the dust settles. So get yourself out of Debt.
Bitcoin will be worth $0
Bitcoin won't be worth anything, and there will be no point even collecting loans at that point, however they might try to go after the properties of mortgage holders. For other stuff, a hard limit.
You forgot that people take out loans because they don’t have the money to buy a car, a house outright
@@prussiansocietyofamericaThey won’t be able to collect loans, only take all of your hard assets and only give you a portion of what you’d get in the new currency to settle your debts. That’s why they say you will own nothing.
@@lisahertel2415 Agree. There is no easy way to get out of Debt. Much easier said than done.
you debt is someone else's credit
when system collapses, then credit freezes
stack silver and gold
emergency food and water and medicine
2nd amendment and home protection
the transition will be months that is my speculation
Your silver and gold will belong to the group who have more people and 2A.
Finally a good, common sense, rational, down to Earth question
We already pay too much taxes, we need to stop government spending. It's that simple. The government is the most wasteful place money can go, that means you get the least for your money when spent with the government. So why spend money on credit to get the least possible thing in return? Its moronic.
Gold and silver should have been your main protection against debt in this video.
The best financial insurance.
Why though? I mean, of all the assets on the planet, gold is one of the worst performing ones out there with the longest history of poor performance.
Gold is volitile. Absolutely cash in on that swing trade, because it is one of the few predictable up and down markets in existence. But over the long term gold has averaged 1% in growth. And it often loses value for years at a time, with corrections that make stocks look stable by comparison.
It's not a fixed asset, there is more mined and minted every day. It has traditionally been propped up by the jewlrey and tech markets, but both of those have moved on to other metals of choice.
And if things get real bad and you had to use gold as currency... How is that going to work exactly? The general public has no concept of the value of gold compared to normal everyday items. You would have to sell to a government in exchange for a currency, and a government with a failed currency is just going to confiscate your gold rather than give you a fair value.
Realestate, companies, collectables, skills, tools... Those are things that hold or grow much more value over time, and are wither harder to take or easier to use in a crisis.
Im not saying to have no metals as part of your investments... Just a very extremely small amount, and only as physical metal, not paper stocks unless you are just trading on the volitility.
“But over the long term gold has averaged 1% in growth”.
Silver & gold are the most manipulated commodities on the COMEX through fraudulent derivatives, they are suppressed intentionally. Gold & silver have outperformed every other currency in the world for over 5 thousand years. Every fiat currency throughout history has eventually collapsed except for gold & silver. The U.S. Dollar is no different, it’s falling. Ask yourself why ALL of the world’s central banks are accumulating silver & gold at record levels. They know what’s coming. The cabal “Federal Reserve System” is crashing and when it does completely, the metals will show their true market value.
The best financial advice
@@CaedenVbecause you can trade gold for the exact money it’s worth and it’s worth more as inflation goes up it’s still scarce than usd
You will always owe your debt in the currency you agreed in if they change the currency you would have to reagree to finance remember the dollar is the legal currency and if it is ever changed you will have an option to pay your debt off with the legal currency and if you can't then you will have to refinance with a different currency. But you can always make payments with dollars people may give you and pay your stuff off or just make the payments. But if the dollar becomes completely worthless just tell your friends not to burn it give it to you so you can pay debt off.
The problem though is it will be so worthless that they won't even bother collecting it. Every dollar put into existence is fictitious, so it's not even based on Credit.
Yup 👆
So if credit card companies and banks go bankrupt, and go through a bankruptcy, will credit card holders actually have to pay up?
We will go to a QFS banking system when the with digital currency
Saying people with credit cards debt means over consumption is so wrong. It means you've had bad things happen to you or your family. Like hospital bills, lost jobs, sickness, helping your children and grandchildren.
Been thinking about this for a while. You’re the first person to talk about this topic. Thank you so much.
when it collapses. the debt is erased
Hi! The property taxes in some states, Texas, have gone up 650%. Other states are increasing property taxes. Then there is home insurance that is very expensive in CA and FL. So, I do not see where a home, especially a new home, is a good buy. Houses may or may not be of value. Right now they are overpriced and getting locked into a high interest rate mortgage makes the home an albatross.
In the great depression my grandmother told me that they had to save all year long to pay there property taxes.i think every state will see property taxes of 500 percent or more as the city's scramble for cash.the powers that be have been saying for years you'll own nothing and be happy. Blackrock and vanguard are going in buying single family homes and making offers well above cash price.they want us to be a nation of renters.they will be a wholesale buy out of property by the gov and big corps.
Exactly they even offer a program where they buy your house from you and then allow you just to pay them rent back to them. I seriously hope people are not falling for this.@@charlebrownga
Silver and gold, the two things your state can't tax and take away from you. Property, they jack up the value of it, which you think is great, until that property tax comes in for that year and you find you can't afford it anymore, so you lose the property. Your property taxes are based on your properties value, which your state can manipulate at the drop of a hat. The last thing any sane person wants to see in this day and age knowing that it's his property value shooting to the moon. That means they have a huge Property Tax Bill coming. They can directly rip off your wealth that way if you put your wealth in property. That is a big part of how you will own nothing. They are fully aware that some middle class people are living on their property equity, and some states are using that to strip them of their wealth.
In Canada, if you don't pay your property taxes in 3 years, the regime will seize your property and auction it off. Most Canadians don't even know that they don't own the property they think they own. The state owns it, and the people only own the rights to use it and sell it. The state can come in and expropriate it at any time. They will take it if you don't pay taxes. If the owner dies and has no heirs, it goes back to the state.
The problem with real estate in SoCal is that property tax is ridicilous and it is constantly rising.
Very clearly explained. Thank you very much.
Is GDP growing or does it only appear to do so due to inflation.
Absolutely wrong your agreement is in dollars if the government ever switches the currency to another form of money that contract will have to go to court because it's in dollars you never agreed to pay at any other way but it's ridiculous you would even make something up like that completely wrong.
Sure, then one will go to court, the law makers will have been found to have created a legitimate law, and the rest will be history. Not only is this not made up, but it is historically factual as well.
@@NolanMatthias absolutely not that's not how it works you're just repeating and telling people lies. In a reset everything would be different because what you make in dollars and what you make in a new currency would all be different so he won for one would not be even and trying to adjust it would be impossible. You're just talking fiction.
@NolanMatthias what is an example
What's the point of a contract if they can just change it. 'Oh they changed it to the new currency? Then I'll change it to 0 of the new currency' 😆
@@davidwestwater2219In the 1920’s hyperinflation in Germany (Weimar Repliblic) they repriced people’s mortgages. Not sure how exactly but just know that they did it.
This seems like a legal battle.
If someone borrows money with a signed legal contract saying they will pay back that amount plus interest, and you do so with newly "inflated" dollars, you fulfilled your contract.
How can they demand they pay it back with a different currency?
I know the greedy banks and lenders will never let this happen, but seems like contractually they are screwed.
In periods of hyperinflation, farmers whom owned lots of land, were doing great.
You give a very balanced non emotional evaluation of the situation. I just subscribed. So we are facing a decision. We own our modest home outright. Live in Southern California. We have no debt other than using our credit cards to pay for everything and pay them off every week to get the points. I am semi retired with a pension. Currently after all of the bills are paid we are positive about $1400 month. California prices are getting stupid high for everything. We are Conservative so we hate California for its politics. Should we sell our home and move to a cheaper state to live? I would Love to, my wife is hesitant. We could buy a bigger home in a smaller market and bank or invest the difference. I would save across the board by moving to Arizona. We have a decent retirement account and some savings so we arent likely to starve either way, but who knows in the current economic environment. What is your opinion? I know.that thete are other factors too, not just economic.
I wish I could give you an answer to this, but it is such a personal decision. There is no doubt many Californians are leaving for greener pastures… or Texas. However, one thing to keep in mind is that even though your expenses may go down, people who flee one are for another often don’t assess the earning power in the new area. If it is similar, and you can have a better quality of life, I’d say go for it, if not, you have to really evaluate the costs and benefits carefully.
Also, I appreciate your kind comment. I’m developing a new style of content more in line with what you saw here. Are there any other topics you would be interested in me covering?
@@NolanMatthias The earning power isn't as much of an issue. I do work two part time jobs in California to stay busy and that Garners about $2400 mo before taxes. Health insurance is the biggest concern. I currently purchase my old employers plan but it has gotten so expensive that I will not be able to renew it after this year and have to go to Obamacare. If Biden gets back in his tax increases will devastate our budget in California or Arizona.
@@NolanMatthias Let me give it some thought. Maybe some insight on relocation after retirement (In General that is) Some of the pitfalls. Like in my case, I am seeing Arizona as a Dream Land but I have never had to worry about a rattlesnake by my trash cans. Moving away from your established support system if you have one. Difference in weather. Maybe if you have any expertise in foreign retirement. Or you mentioned gold, how do you feel about silver? If I have any other ideas I will send them to you
Move
if the country is gonna collapse financially, id go full out into the markets because if the country can turn around then you should see a massive gain in your investments and if dose not.. well your cash aint worth anything anyways
💯 love this
thank Mark Howard legendary investor bet in 2008@@NolanMatthias
Before the war in ex Yugoslavia started my aunt had a credit in Yugoslavian dinar, hyper inflation started when the war started and my aunt paid off her house with three dollars… previously the debt was 80,000$approx
Thank you for the video.
My mortgage is denominated in bananas. So I'm covered. As long as I can get my hands on bananas regularly.
Not sure about your comment about the risk in gold… why are so many countries buying up massive amounts of gold… do they know something you and I don’t know?
Yeah, that they can’t trade with Russia or Iran with USD. Follow the yellow brick road and you’ll find the answer. 💪
You get digital currency debt.
If the currency goes digital, that’s a real possibility
XRP 💪
They sure will try to include the current debt within the new digital currency
Thks, you made since and said it really simple for anybody to understand. I understand hyperinflation now. I would say were definitely in Hyperinflation now.
1:40 Relative terms, you got it. Otherwise, you can't clear domestically or internationally each evening.
Buy silver and gold to protect your wealth.
You’ll need more than just gold and silver friend.
And crypto...which is digital gold. Over half of Americans aren't even invested. Plus They just passed the FIT21 crypto bill. Investing in cryptocurrency is a no brainer, especially since we're transitioning into a digital dollar.
@@NolanMatthias It's good to hedge against inflation.
You basically said you don't believe the USD will collapse in the same breath that other country's currency can.
Yes. That’s accurate. Emphasis on most currency collapses happen with pegged currencies not floating ones
@@NolanMatthiasthe us is fixing to lose its reserve currency status. The only thing that's prevented the dollar from being toliet paper is the dollar being pegged to oil.saudi chucked there deal to only sell there oil in dollars recently .the brics nations are moving to a basket of currencies. The us is preparing to fight ww3 but I think it'll waste what little blood and treasure we have left.we are nearly bled out.
Don't have debt. No credit card or score. Retired overseas.
Keeping a low baseline for expenditures is kind of impossible right now if you own a home your text will go up hundreds of percent and if you rent...
I have no debt.
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $389k now to put in the market.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $21k ROI, and this does not include capital gain.
Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.
'Iynne Marie Stella, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
theres no such thing as an asset nobody can take from you.
Asset forfeiture laws, imminent domain, the great gold confiscation etc etc
What happens is purchasing power of Debt halves, House price doubles. Take reverse mortgage on doubling and use to pay off mortgage. Too easy.
Your 100% wrong.
Dave Ramsey JR
I am so happy that I made productive decisions about my finances that changed my life forever. I am a single mother and I live in Spain, I bought my second house in September and I hope to retire next year at 40 if all goes well. thanks to Natalie Rose Strayer for helping me achieve this.
You trade with Natalie Strayer too? Wow that woman has been a blessing to me and my family.
That woman has changed my life for good. I attended her investment class couple of weeks last year and she’s the best when it comes for Guidance.
I've heard a lot about her. Please how do I contact Natalie Strayer?
The very first time we tried, we invested $1700 and after a week, we received $9000. That really helped us a lot to pay up our bills.
Her good reputation already speaks for her .I’m also one of the beneficiary of Natalie Strayer. So happy I gave it a trial after being skeptic of the process.
In Sweden 1991 they had the SEK pegged and they tried to protect it and raised the interest to 500%! That didn’t work so they were forced to make the currency float and it lost a big chunk of its value.
Just a heads up no one will be giving loans in this situation Regardless of what your credit is. you'll need collateral most likely your property will be the only thing they would accept in that type of environment
There are major flaws and lack of real world examples of what you are saying. Many Germans, for example, paid their mortgages and debts off when the mark hyperinflated in the Weimar Republic. The key is making a decision to pay off all your debt while the crisis is taking place.
Also, governments have failed to protect creditors time and time again. Whether it is US treasury holders over the past few years, who have seen massive losses if they purchased them at low yields, or the mortgage lenders in the 60s and 70s, who suffered massive losses with the inflation of the 1970s.
While it is possible that the issuance of a new currency could mean that the debt could be priced into the new currency, this new currency would not be rolled out overnight. Also, most people would pay off their debts as soon as there is heavy devaluation in the currency.
The cbdc is already being developed. It's actually being used between banks as we speak. The fed said they plan a Public roll out in about 24 months give or take a month since it was announced. The public won't be told until it happens. One Friday evening everyone's savings will go poof.most of the banks will be closed.come Monday or Tues the new cbdc will be out and they will be having ppl turn in there paper money.
When the dollar gets weak, it could mean tough times ahead economically. I'm thinking about how to protect my money from inflation. Lately, I've heard a lot about Bitcoin. With its halving finished and ETFs approved, many folks expect its value to shoot past $100k. I've got $300k saved up, and I'm tempted to invest now. But I'm worried: Is it too late to make the most profit?
It seems like there's potential, but caution is warranted. hence I will advice you get yourself a financial advisor that can provide you with entry and exit points
If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 65% since January. It is, in my opinion, the best way to get started in the industry right now.
hello , Where can I find this coach?
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
More likely, we would see hyper deflation because of the heavy amount of debt
Owning my own off grid solar system caused a snowball effect. As electric rates increased tha savings paid the solar off faster. Then all that money was put towards my highest interest. Now all is paid off. Then mortgage disappeared at a super fast rate. Now I owe nothing and cost of living is almost free. Oh I grow and eat at least %50 of fresh food.
Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
“Carol Vivian Constable” is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.
DITCH THE GENO SIDE DOLLAR
Title of this video should be what happens to debt obligations as the dollar rises , not falls .. And all countries that have to print more of their own currency to use u.s dollars in the global market. It’s literally why we see the 2 year u.s note going up on demand (yield falling) and soon to force FED TO CUT RATES…
first sane channel on these issues
@ 19:34 ... As a lower middle-class investor in USA, I am not sure about purchasing any foreign assets. I like everything that you say, except purchasing foreign assets at MY income / investment level. Property, metals, and being debt free seem safest for me for the foreseeable future. Warren Buffett famously says don't bet against America.
I’ve been buying 1/4 oz gold coins and 1 oz silver coins. I figure if I buy 1/4 oz gold and 4 oz silver every month that means 3 oz gold a year and 48 oz silver. I think eventually gold will go through $5,000 and silver will top $100. I sold most of my crypto. Turned a few thousand into $115k and then bought a house with that and the profits and equity in my house. Moved from NY to TN. I make the same amount of money here. Cost of living is far less. No state income tax. Property tax is 1/12 what it was in NY.
Hi Nolan hope your well I think as the hyperinflation takes place intrest rates would keep going up to slow it down what you think thanks
America: 4.5T tax collection. 7T spending. Is this affordable?
There will be a very short period of time where it will be possible to pay off my home - my only debt and do so with just a few silver coins. Also, I've made sure to put away a lot of barter items so that when Spam is $50,000 at the grocery store, I'll sell mine for $40,000 and I'll be just fine.
The interest rate will shoot up to 15% overnight
You kind of glossed over the credit card situation. Seems to me that prior to some kind of official repricing of the Dollar: (1) yes, your principal debt effectively decreases and becomes easier to pay off, and (2) your interest rate is likely to climb very high in order to compensate the lender for the loss of yield.
Let’s not forget the BRICS Coalition and Saudi Arabia not renewing their petro agreement. Countries around the world are dumping our debt at alarming rates.
Si, it applies to your wages as well then (because that's what Everything means)?
As a postscript; US TOTAL DEBT is over 100 TRILLION dollars. That's insane. That will never ever get paid back. If a business was run like that they'd have no choice but to declare bankruptcy. The only thing keeping the American dollar afloat is the waning confidence of the American people and the fact that enough countries are still using the American dollar as their reserve currency. But that's rapidly changing with the rise of BRICS. Once a certain threshold is reached and we come to the tipping point then the American dollar will have no choice but to collapse. It's inevitable. It's not a matter of if but when. Still time left to prepare but that time grows short.
Theres something most don't know. The federal reserve isn't a government institution. It's a private bank loaning us money.what people don't know is the collateral on our debt is all the public lands in the us.
@@charlebrownga Every single dollar is debt inclusive usury/interest... every single dollar
Gold and silver is a good hedge, but dont and go put all of your wealth solely in those, property and some stocks may help as well, and just make sure you have useful skills that people might always want or need
Best to be in debt up to your eyeballs when hyperinflation happens. The companies that want their debt paid will cease to exist. Now you have a car note or mortgage and no one to pay it to. But you still have the house and car. Same thing with credit cards. Debt jubilee.
When you are already in financial ruin you really don't have to worry about it
What about zombie debt past the statute of limitations?
What happens to oil business, potentially without saudi aramco? When ai/tesla taxis start?
The copies of gold and silver inflated,
which after the theft were thrown into the lake,
at the discovery that all is exhausted and dissipated by the debt.
All scrips and bonds will be wiped out.
-Nostradamus
I wondered what would happen. Our mortgage contract is in dollars, so if the mortgage company won't accept dollars, I figured it would be in breach of contract.
hi mr nolan
different countries do it different,
often it os loke this
if you have a plus, they give you thr new currency
like if you have a surplus
of say 10,000 they will perhaps give you 100 in the new currency
if you have debts of say 10,000 minus, then you will have
to pay in the new currency 700 in debts.
According to who?
If your a bank or a corporation, the government prints money to bail you about. No need to be prudent with debt. Modern monetary requires us to spend spend spend spend spend spend, and of course work work work work work work work
When shit hits the fan , people need toilet paper
Inflation of labor cost is not keeping pace with inflation of goods. Wages have increased only a fraction compared to goods and services. Cost of goods/services/housing relative to wages parted ways long ago. Why a grocery store clerk could once afford a 3/2 home on his wage while his wife stayed home. Now with both husband and wife working those jobs, they’d be lucky to afford a single wide trailer and still pay bills.
(It’s by design)
I'm from the Philippines and I live in a condo. Recently I attended a meeting and it was revealed 50% don't pay their association dues. Our building can't be retrofitted because we lack funds. Somehow I suspect this is so because I usually pay our dues at the last day and the last hour and every time I don't see a line maybe just one person in line and I'm next. I don't know why people neglect the second most important thing in their lives which is shelter. I also don't know why the officials has let this happen for too long. That's what happens if some people don't pay their bills, everyone does it too and soon enough everyone is in trouble. Well we actually have a second house that is just collecting dust so it won't be a problem to us but other people will not be so lucky when the gov eventually condemns our building.
Yes, it's a thing in the Philippines doing "chores" at the last minute but we get by.
"Servicing a debt" is just a fancy way of saying "throwing money away on interest"
Debt to GDP is the power to payoff the debt, not maintain the waste (and this doesn't include how the remaining money is managed/mismanaged)
Lol, "having debt = risk"
But apparently it's no risk for a country to hold debt ;-)
Problem with this thinking is using official USG GDP numbers-significant % of GDP consists of financial sector which effectively produces NOTHING of value. Same applies to government services-they really produce little of real value...
Good point