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?
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?
My coins are in a box. They are anywhere between 60 and 100 years old. They have never had any special protection, so I'm not doing any special for them now.
On the other hand, brand new silver rounds are bright and shiny. If you want to keep them that way, keep them covered. Tarnishing doesn't really hurt the coins, and you can always polish them later if you want them to be shiny again. The few that I own are not enclosed in plastic and have tarnished. I probably won't be polishing them.
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!