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?
Stacking? as in silver and gold? Stocking up? as in food?
Food will definitely serve as a great currency should we get there.
Yes, yes, and yes.
Also, preparedness in other areas, such as solar power, propane, canning, tools, garden, seeds, books, etc.
Where do I buy silver? I 2ant to get my hands on some physical metal.
I have used Apmex.com in the past. There are also coin shops in most towns, but their prices might be high.
I lean toward junk silver, that is used American silver coins that anyone can recognize. They are in smaller sizes that are useful for buying smaller items. One-ounce silver rounds are only good when the other party knows what they are, and they're only good for larger purchases.
Gold is good for even larger purchases. I would stick with the small 1/10 ounce coins.
Thanks so much, this gives me something to go off of.
I'll check my area for coin shops and visit them.
How do you store/protect silver coins? Silver tarnishes, right? If they are used or pre-owned, are they usually still in a protective minting case?
https://findbullionprices.com/closest-to-spot/
This is where I always go to find the best silver/gold prices. They compare every bullion dealer and show you the cheapest in a very simple breakdown.
Wish I had found this site years ago LOL
Awesome thanks for the link!