I was almost 16 when Jimmy Carter took office, so I'm struggling to remember how high interest rates and home mortgages got during that time. I do remember at one point having enough money to put into a CD that earned somewhere between 14% - 15% interest (at least that's my memory. It may be incorrect.) How high were home mortgages back then?
When I got my first home mortgage in late 1986, it was 9.75%. That much I do remember.
In 1978, car loans were 20% and up and in 1993 when I bought my first house it was 8%.
When the rates start going up, the Real Estate market and the debtor class is going to take a beating, BIG TIME!!
Gold is the Money of Kings
Silver is the Money of gentlemen
Barter is the Money of peasants and
DEBT is the Money of SLAVES