To: An Old Man
Those who squandered their wealth will be in a world of hurt. Those who have saved for a rainy day will make it through all this
You have that completely backwards. Since the dollar goes to 0 value or nearly zero value all dollar denominated savings become worthless. On the other hand if your debt is valued in dollars you can pay off your entire house with one hours pay. For example a low level government functionary in Zimbabwe they make about $100,000,000,000,000.00 an hour. That's about $6.00 US if your interested. But if his mortgage was valued in Zim dollars before the crahs he can pay it off with his days check.
So who benefits, people who have big debts. Who is destroyed, people who live on their savings or on fixed incomes. Who benefits the most, Obama and the Democrats, all government debt wiped out. After all the debt is enumerated in pre-inflation dollars. So if our inflation goes to Zimbabwe levels Obama can pay off china by selling the office supplies in his desk drawer for a few trillion worthless Obama Dollars. The entitlements like Social Security, can be paid off in worthless Obama Dollars. Everyone is reduced to being a beggar and if you don't worship at the feet of The One you don't eat.
24 posted on
03/30/2010 3:00:22 PM PDT by
GonzoGOP
(There are millions of paranoid people in the world and they are all out to get me.)
To: GonzoGOP
"Everyone is reduced to being a beggar and if you don't worship at the feet of The One you don't eat. " Would you say that those who:
- Own Land (Free and Clear)
- Own Animals and Machinery (Free and clear)
- Have a plentiful supply of food (paid for of course)
- Have a supply of precious metals in quantities sufficient to sustain themselves and their neighbors
- Possess the means to defend all of the above
Are going to be beggers!
It's difficult for me to understand how some folks are able to equate paper money with wealth.
I believe in being prepared for every eventuality. I trust you do also.
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