What happens to debts during hyperinflation?
🗣️ DISCUSSION 💬
Just trying to wrap my head around hyper-inflation. If the US Dollar goes the way of the German Mark from 1923 and the USD is worthless what does that do to existing debts? If I could walk out onto the street and scoop up $500,000 from the gutter could I pay off my house? I'm sure the banks that hold the mortgages have safe guards in place to protect them. What am I not understanding?
Hyper inflation will make other elements of living(Gas, Food, Taxes, clothing etc...) so expensive that making a mortgage payment is irrelevant. Great, you own a home but you're starving or you can't make the house payments because a cheese burger cost $1800.00.....
Imagine an inflation rate of 400% annually, Hyper inflation....
Most houses are made of wood. Termites eat wood. A vaccine can be made to alter our DNA to include termite genes --> Humans can eat their homes.
Application of 21st century tech to 21st century problems.
Modern problems require modern solutions. Kek.
I read that as: Moderna problems require Moderna solutions. Ha!
kek