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Where does debt go?

Seems to me that a lot of people who are in debt want an economic collapse. They think it will rinse away their problems and they can recover. Same with our government; they kick the can down the road but probably aren't concerned about a coming economic collapse. Fools, all of them. When it happens, it will be hard and long. People in debt are not going to easily recover; they'll be suffering in poverty for years. The government is running out of other peoples' money and handouts will be constrained.

Debt will transform into suffering for most people. People need to get off their butts and create some assets in order to ride out this coming storm.

People need to get off their butts and create some assets

I guess pouring in tens of millions illegally was not the type of assets America needed or wanted. Of course the illegals coming from poverty who are used to taking what they want, won't be affected much.

Seems to me that a lot of people who are in debt want an economic collapse. They think it will rinse away their problems and they can recover. Same with our government; they kick the can down the road but probably aren't concerned about a coming economic collapse. Fools, all of them. When it happens, it will be hard and long.

I agree.

The one segment that even the most sober analysts cannot answer with complete clarity is: So, what will the banks, law enforcement, and governments do when tens upon tens of millions cannot pay their mortgage or car payments?

Do they forcibly evict tens of millions with a mortgage?

I am not sure what they will do. Even if you are debt free, the governments might still destroy you with the permanent "rent" on your land and home, known as "Property Taxes."

See this article:

http://www.onpointpreparedness.net/economic-collapse-a-debt-free-home-are-you-still-safe/

He also argues that he believe the first collapse will be deflationary, which will just about wipe out businesses and jobs. Then, hyperinflation on steroids will kick in, and then almost everyone except for the very elite be enslaved - completely.

Also, hyperinflation in past times was rapid, but was limited by how fast they could print the money and put it into circulation.

We are basically an electronic currency now - and in a matter of hours, or even minutes, hyperinflation can be ramped up to such a degree that it will bury most.

My best advice would be to stock food, water, essential medical supplies, and have backup sources (at least temporarily) of heat, light, and power.

Also, have some means to defend yourself and your family.

Some cash on had would be prudent. Credit cards and debit cards may not work, and in a real crash, won't.

Gold and silver are a hedge (as he mentions in the article), but they are only valuable (especially short term) if they are in demand.

I have been told by many individuals that in a prolonged (meaning many weeks or months) emergency situation, they will barter with gold or silver.

I am sure there will be a lot of that going on, but I would not be my life, or my family's life, on it. I cannot imagine the scenario of driving down to some black market parking lot and trading away silver coins or bits of gold from my friendly panicked citizens for food, water, or medical supplies. Can you?