Here is our initial discussion:
I wrote:
Surprisingly, you will still have to pay that debt during a collapse.
You wrote:
How do ya pay when the financial institutions are closed, no Internet, no gas etc? Will they be expected to write a check out, and walk 30 miles to deliver it to an empty building?
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And that is not what the situation was in various countries that had experienced a collapse. Debts were still owed and had to be paid. Just like what happened in 2008 here-only worse.
Banks shut down temporarily in these countries. But they still had banks and you were not allowed to withdraw all your money and you still had to pay your rent, or mortgage or whatever. And the surviving banks acquired the assets(loans due to the bank) of the other banks.
And in places like Venezuela, and Argentina, there were still banks. And there was an exchange of silver and other valuables to get the currency dictated by the government in order to buy what little was left to buy in stores.
And the hyperinflation was such that the prices of the merchandise was changing so fast it was different by the time you went back to pay for it.
And if government still allows you to own property, you still have to pay the taxes and if you don’t have something like silver or gold to protect against inflation, you may not be able to.
To be clear. Shelter, Water, Food, Medicines, and guns and ammo are all important. If possible, the shelter needs to be protected-and old people especially aren’t likely to be able to bug out to the woods and survive.
So just leave it at that. You go do whatever the heck you want based on whatever you want.
All I tried to do was point out that it was not totally realistic to think that an economic collapse would mean you get out of debt free.
LOL! You go ahead and hang on to that belief. But the fact is, in national big event/total collapse, those who feel they're owed will be lucky to survive.☺
If the mobs or one side ever wins and this government collapses, feel free to run around tell everyone they still owe money, then try to collect money they don't even have.☺ Good luck!