What Happens To Your Debt When The Dollar Dies & The Reset Happens? A Full Breakdown

Рет қаралды 101,469

5 ай бұрын

Join the Bald Guy Money Patreon Community for great additional content: patreon.com/user?u=85209064
Check out www.pimbex.com/ for all of your bullion needs.
Call them at 888-892-9363 for a free chat about your IRA!
Link To The 1 Oz. Gold Australian Kangaroo Coin Featured In Today's Video:
www.pimbex.com/purchase-bulli...
In this video I breakdown exactly what happens in the months and years leading up to a currency collapse and how your debt will be impacted by a currency collapse. Order of topics covered here:
- I start by covering the currency lifecycle - a concept I developed for KZfaq
- I then move on to how different types of debt react to currency collapse
- I finish with a decisive overview of the benefits and risks involved in taking on debt whilst expecting a currency collapse.
Be sure to watch to the very end because it is full of useful information.
None of this advice - I am not a financial advisor - this is educational material!
Links to data sources:
Turkey Interest Rates Data
tradingeconomics.com/turkey/i...
US Median Home Sales Price Data
fred.stlouisfed.org/series/MSPUS
History of the Euro
en.wikipedia.org/wiki/History...
US Federal Debt Data
tradingeconomics.com/united-s...
US Hourly Wage Data
tradingeconomics.com/united-s...
#greatreset #gold #bitcoin

Пікірлер: 540

@baldguymoney5568 5 ай бұрын

Join the “Bald Guy Money” Patreon Community for great additional content: www.patreon.com/user?u=85209064 It's only $9.99 a month (discount for full year subscribers)! When you become a Patron you get my weekly newsletter with buy targets for gold, silver, bitcoin, and more! You also get bonus video content and access to my excel stacking tools.

@LizaJane84 4 ай бұрын

Their debt disappears NOW

@fredrodriguez177 4 ай бұрын

I am surprised at you, taking a currency that may not be around.

@erichansen3641 2 ай бұрын

@@fredrodriguez177 So you think Bald Guy is going to sit on the cash in a bank account instead of turning it into real assets that hold their value? I don't think so.

@sageoldmann5157 5 ай бұрын

Our debt doesn’t reset or go away, but all the rich politicians debt will magically disappear guaranteed. American greed is a wonderful thing.

@Sldghmmr338 5 ай бұрын

That will bring about an American “French Revolution”

@haveyourbestbodynow 5 ай бұрын

It's not just an American thing.

@utubedude2842 5 ай бұрын

They’ll get a bailout

@user-ol5rj8qn9o 5 ай бұрын

Not if the government takes the guns. @@Sldghmmr338

@Dimes607 4 ай бұрын

All that debt is an asset on someone else's balance sheet. It won't be forgiven

@lanky-x782 4 ай бұрын

If there is ever a debt jubilee it will come at the cost of giving up everything you own and being moved to your very own 15 minute city and living in a shipping crate with your monthly ubi. You WILL own nothing and be happy.

@williewonka6694 4 ай бұрын

Exactly

@elizabethmurray5718 Ай бұрын

Could very well be.

@adamknowswhatshappening 10 күн бұрын

yep. they will disarm Americans by food for guns. Starvation will be first.

@adriennefinlay9023 5 ай бұрын

A very well done and informative video. When you are in debt, you are a slave to the debt holder. Freedom comes when you have no debt.

@rawjhaw 5 ай бұрын

are you suggesting that the biggest debt holders in the world - the financial elite via their banks and corporations - aren't free? smh

@bobsilver3983 5 ай бұрын

I became debt free in 2009 when I finally woke up and got out of debt. I owed around $80,000 so I sold 5 cars, and a bunch of other stuff and paid everything off.

@patrickzabron3622 5 ай бұрын

Smart

@edb3877 5 ай бұрын

Well done, Bob. Kudos to you for making that happen. We went debt free in 2014 and the reason for that was that my stock portfolio was growing my 12-14%, which was more than the 7% home loan we had at the time, not to mention the tax break on housing, so it didn't make sense to pay off our debt until the situation changed. Once it did, we were happy to pay off the remaining debt. It was so nice not to have that $1100 a month house payment anymore.

@bobsilver3983 5 ай бұрын

Great job! Its a great feeling...and I preach it to others.@@edb3877

@user-ho4nw5sf3w 5 ай бұрын

Feels good don't it. Paid off everything and became debt free at 55 , I am now 74 . Yes I do enjoy owing nothing to nobody. One cautionary piece of advice. You are loosing any credit score you might have, by not using any credit. It really is difficult to go with out a credit score, and being out of debt doesn't help this. My cure was this. I have certain expenses every month, so I got a card charge to use for these expenses. This card card has a limit on it. My is 500$ when I get my pay once a month, I pay off this credit card first thing, knowing I can walk right in a store and start using it again. It gets paid off every month and I never pay interest. I've been doing this for twenty years. My credit score is in the high 700 s and in case something happens I can pay this off at any time and be debt free.

@OE-vc5si 4 ай бұрын

Make sure Got wouldn't rade on your cash ...

@briansmythe3000 5 ай бұрын

Hello Bald guy A friend of mines Dad once said when we were about 15 Never buy anything until you save up the Money and buy it outright That always stayed with me And was great advice 😮

@redgatecrt 5 ай бұрын

Saving money causes losing value of the money your saving. Money/fiat loses value every year by inflation, the interest you earn from a bank is less than inflation. You must save via converting your money into a hard asset that at least keeps up or exceeds inflation, one example is gold

@ET-sp6qm 5 ай бұрын

Did he also tell you to buy bitcoin in 2012?

@briansmythe3000 5 ай бұрын

@@redgatecrt that was back in the late 70's credit cards were just starting too gain popularity Money held its value back then plus getgood interest in the bank 🏦 Having said that I own my house with gold and silver saved off too offset the Pension If there is any left in 6 years time

@peaceofmyhearthomestead4611 4 ай бұрын

and this is why I'm 55 and I have no house... I'm not able to save up enough money to buy a house out right. I barely pay my rent as it is

@robb7733 7 күн бұрын

Thank you Dad. He gave you the gift of freedom and pride of ownership.

@silverliner4894 5 ай бұрын

Devaluation of currencies is real. But the economic scars that it leaves behind are devastating. Great video Bald Guy

@baldguymoney5568 5 ай бұрын

Well said.

@angelomartinez2603 5 ай бұрын

Don't buy anything on a credit card that you can't pay off the following month. If you do use a credit card make sure you use one that rewards you in points or some other way,

@Demonslayer-vt9lm 5 ай бұрын

Just don't have one period

@TacoTuesday4 5 ай бұрын

@@Demonslayer-vt9lmthis is great advice for most people. But if you are responsible with your money, have plenty of cash in the bank and follow a budget then there is no reason to pass up on free benefits.

@JewTubeSux 5 ай бұрын

We spent a decade eliminating all of our debt and also stacking precious metals. Land, home and automobiles are all paid off...

@TheQuickSilver101 5 ай бұрын

Wow, that kind of thinking is incredibly risky. The best thing I ever learned from my father is that staying out of (or getting out of) debt is the best thing you can do for yourself. Being out of debt is incredibly freeing. When you load up on consumer debt you're gambling and the higher the debt the higher the stakes. I'm friends with a gal who worked for a bank in their loan collections department and had many stories of rich folks who had tons of consumer debt, then they lost their jobs or businesses and couldn't pay so they lost everything. Risking so much on the slim chance that everything works out perfectly for you is a mistake that you will almost certainly regret

@edb3877 5 ай бұрын

Agreed, QS. I remember speaking with real estate pros about how much house my wife and I could afford. It was 40% of our gross income! Neither of us could accept that, so bought a more modest home that was just over 20% of our gross income. The plan there was that if either of us lost our jobs, the other could shoulder the load until a new job could be found. This worked really well for us. Something else that worked really well was having a "his, hers, and ours" money system. Since we both had income, we wanted to be free to spend a little more on the things that interested each of us while at the same time funding the house and all the bills that entailed. If one of us wanted a newer car, for example, it was up to each of us to pay for it. No me driving a beater while my wife tooled around in a Beemer. Because of this, we both drove decent cars but not high-end luxury-mobiles. Since my wife was great at spending money, she paid all the bills from the "house" account that we both funded equally. Since I was the saver, I was in charge of saving and investing. Both of these worked well because they played to our personal strengths.

@redgatecrt 5 ай бұрын

I disagree. Debt is fine if you understand these two concepts. 1. Asset 2. Liability Debt on a Asset if calculated correctly is fine Debt on a liability such as a car or a house you live in is a losing game

@buttercooler900 4 ай бұрын

The Bible says the borrower is a servant to the lender

@oledog8391 5 ай бұрын

All the noise in the “Patriot" community about NESARA and GESARA is leading a lot of people into the scenario you describe - Leveraging up on credit cards and mortgages to buy PMs is the perfect formula for ruin. There is no debt jubilee in our future. Excellent topic!

@baldguymoney5568 5 ай бұрын

Cheers!! I agree with you 100%!

@williewonka6694 5 ай бұрын

Yes, the gold and silver scamsters love to focus on those types. Beware

@charlebrownga 4 ай бұрын

Well the powers that be are preparing a digital currency and a Chinese style social credit score.they intend to simply roll the existing debt over into the new system. Even worse they intend to collateralize all the old debt.

@PaulFinestone 4 ай бұрын

Leveraging credit cards to the max and going bankrupt is a very old and profitable game. I rarely see debtors getting any restitution.

@oledog8391 4 ай бұрын

@PaulFinestone bankruptcy is followed by 7 years of scrutiny that affects an increasing footprint in our lives. I think I'll avoid this route if possible.

@user-lv5lm9ru8u 5 ай бұрын

Just purchased an Irish sterling spoon for 80 Euro ($86.75) that weighs 63.6g (1.89 troy ounces silver equivalent), that's $45.90 an ounce. A good purchase? No? It's a GREAT purchase, as the spoon was made in 1794 and is fully hallmarked. Silver is not just about spot or melt value as this spoon is 230 years old. Much of the 'old' silver has historical value and will never be melted to add to the current scrap supply. Silver mined today is pretty much "all that there is" to meet current demand and demand is much greater than supply. Don't expect much historical silver reserves even more recent supply to be recycled to fill the gap. The takeaway is.. that silver today is most rare and most undervalued.

@mysterybuyer3738 5 ай бұрын

I fully agree. Well said.

@lancev7186 5 ай бұрын

You’ve got to be able to service the debt as things spiral out of control.

@edb3877 5 ай бұрын

Servicing the debt is what one does when they cannot pay it off. In a financial crisis, non-fixed rate debt will consume just about everyone who has it.

@quarter-py4nr 5 ай бұрын

I love your comment about not playing financial chicken. That is the absolute truth, and best way to explain your point. Lots of people think they can outsmart the finest, most corrupt brains. That’s not likely to ever happen

@dpirkl4560 5 ай бұрын

If too many of the peasants over leverage themselves, they will make them pay not reward them.

@BillyBob-fh5he 5 ай бұрын

Wages never keep up with inflation!!

@baldguymoney5568 5 ай бұрын

Yes. We agree. I said that in this video. Thanks for watching.

@michaelbouillon1241 5 ай бұрын

By design™

@szybkieiproste 5 ай бұрын

Very interesting topic! Thank you for talking about this

@baldguymoney5568 5 ай бұрын

My pleasure!

@attila2a746 5 ай бұрын

Zero debt for quite some time now! Thanks for the video bald guy. It was quite an interesting view.

@jimpalsson4147 5 ай бұрын

You are the voice of reason on these financial matters. One doesn't have to be financially literate to understand your lessons here. Thank you.

@baldguymoney5568 5 ай бұрын

I appreciate that!

@ShootPetoet78 5 ай бұрын

Hi Bald Guy, I was a kid when we switched to the euro and still remember the conversion rate from Belgian Francs to euro, which was 40,3399. An immediate effect of the conversion was that everything became more expensive due to the conversion. In ’99, a loaf of bread was 59 Belgian Francs, converted to Euro’s the new price would have been 1.46 euros, but nobody wanted to fiddle with eurocents, so prices were rounded to 1.5 euros. 4 cents weren’t a big deal, but it happened with all products and services. This also happened with the price of raw materials and energy, so we saw several rounds of increased prices over the years, because customers eventually had to pay for those higher manufacturing costs. In 2019, the Belgian government decided to round off prices on 5 cents, although the 1 and 2 cent coins remained legal tender, if you pay cash (not applicable for electronic means of payment).

@baldguymoney5568 5 ай бұрын

Thank you for sharing your experience because this is exactly what I have heard numerous times throughout the Eurozone.

@April0712 4 ай бұрын

How about people bought houses with fixed rate loans?

@ShootPetoet78 4 ай бұрын

@@swissherbgirl2917 Don't remember it like that - for a couple of years, prices were mentioned in both Euro and the local currency. During that period it was still possible to pay with the local currency, but change was given in Euro. Over time the local currency was removed from the market. Same for bank accounts - local currency was shown for reference only, but balances were converted to Euro using the same conversion rate. In what scenario were savings lost?

@ShootPetoet78 4 ай бұрын

@@April0712 Personally I didn't had a loan at that time, but after the introduction of the Euro, prices were displayed in both currencies. New contracts were created in Euro, but the local currency wasn't erased overnight. During the first years, it was still possible to pay with the old and new currency. Documents had to mention amounts in both local currency and Euro. I cannot remember that long-living contracts were stopped and renegotiated. So you had inflation due to the conversions which had an impact on the contracts with variable intrest rates, but no impact on the fixed rates. In BG's example, wages go up with the inflation, which is a good thing if you have a fixed intrest rate. But wage increases were lagging the Euro-inflation.

@juanwurst3450 4 ай бұрын

Some places just took down the unit and kept the numbers (here in germany)

@carsports6475 5 ай бұрын

Never have debt! I had a relative that bought a major piece of land on fixed interest in the late 1960s. When the US broke the gold standard and inflation started in the 1970s, his land became worth 2 or 3 times what he bought it for. The catch is a bank can “Call” your loan at any time and you have about 1 month to pay them or they repossess it. This is what happen to him. The bank called his loan and he could not secure a new loan fast enough and lost his land. Then he went bankrupt because his business was built on that land. I hope this helps someone from making the same mistake.

@baldguymoney5568 5 ай бұрын

That happened to Dave Ramsey too! Great comment.

@deeandrews7051 4 ай бұрын

How can a bank change the terms of your mortgage document if you are up to date on payments?

@carsports6475 4 ай бұрын

They are not changing the terms, get our your home mortgage and read the fine print. 99% chance there is verbiage to allow the "Bank" to call your loan at any time with a 30day notice. You will never look at a loan the same after you realize this.

@Niv1030 4 ай бұрын

It's always the little guy who loses... 😒 Buy gold, buy silver... Yeah, even that market is rigged by the unscrupulous n greedy. Take my words of advice 👉🏼 practice due diligence. The big banks will most certainly win when the financial system, eventually fails.

@pinkypooky5779 4 ай бұрын

What about the hecom loans that r offered to seniors

@user-mr1ku5iz8l 5 ай бұрын

My mortgage contract is specified to be paid in dollars, not CBDC units. That contract is valid until I either sign a new agreement, or the mortgage company tries to force me to use the CBDC units.

@baldguymoney5568 5 ай бұрын

A federal law could convert them all in one foul swoop of the pen. That’s what the Euro example teaches us.

@islandaerial3414 5 ай бұрын

Know anything about UCC 1 and UCC 3 filings?

@sherritreeby3479 5 ай бұрын

They also can easily call in their loans.

@garryallison4716 5 ай бұрын

They’ll just change the legislation to make you pay your mortgage in CBDC, it’s easy for them.

@lonestarskywatcher6279 4 ай бұрын

I thought I had read that on my fixed loan mortgage papers, that they could call the loan at any time for any reason. Is that true? It's been a while since I had a mortgage, but thinking of getting a smallish fixed rate. Maybe I should not. Maybe I should just save the money for a small home. My concern is that home values will remain static which have gone up by 30% since COVID or that they will increase. @@sherritreeby3479

@MikeSmith-is1yy 5 ай бұрын

Don't need to watch, you're debt follows you through any and all financial crises.

@baldguymoney5568 5 ай бұрын

@tonyt.5316 5 ай бұрын

Good one! Bald guy, I wondered this for years! Thank you as always! 👍👍

@baldguymoney5568 5 ай бұрын

My pleasure!

@AKAFringe 5 ай бұрын

All ways look forward to your new episodes.

@kenderosa8528 5 ай бұрын

Excellent video Professor Bald Guy. I enjoy this economic discussion. We love our gold, silver and real estate assets but we need to understand the macro so we can move accordingly.

@charbelfrancis4289 5 ай бұрын

Very well explained like always thanks

@baldguymoney5568 5 ай бұрын

Glad you liked it!

@SovereignCajun78 5 ай бұрын

If a fixed rate mortgage loan doesn't go up, they'll hit you with higher homeowners insurance premiums. I'm going through this now. I have a 3.5% rate, bought my house in 2016. My mortgage payment hasn't gone up, but homeowners insurance premiums have more than doubled since. My insurance premiums are now almost half of my monthly mortgage and escrow payment.

@fillmorehillmore8239 5 ай бұрын

100%. They are going to steal your stuff no matter what. Either through hyperinflation or the State goes full commie and takes it. We are all renters to the whims of the State or the financial system (which all of them suck in their own ways) so hedge accordingly.

@melektaus2906 5 ай бұрын

These are different entities though, and the costs generally are due to living in high risk (hurricane/flood/fire prone) areas, plus increases in labor/material costs Are you in the southeast or the west coast? Like if you lived in Vermont or Minnesota this would be pretty weird but if your home is in Florida or California it would make more sense. I don’t think the mortgage issuing bank is somehow getting more money from the insurers though

@melissastolhammer72 5 ай бұрын

Your costs aren’t going up. Your fiat money is being debased. The money is becoming “worth-less”.

@fillmorehillmore8239 5 ай бұрын

@@melektaus2906 During high inflation on materials and labor we will absolutely see people on fixed incomes lose their homes due to higher property taxes and insurance costs. Austerity within municipalities all the way to fed's must occur, if not then inflation is a certainty along with aforementioned loss. The feds will increase OAS and this will lead to labor either renegotiating wages (more inflation) or more for cash work where taxes are avoided. If there is a crackdown on cash work then people simply stop working (or work less) for the paycheck and do more for themselves (deflation). Government and their actions are absolutely the metric to watch to see where this goes.

@Greencloud8 5 ай бұрын

As a kid of an insurance agent I am pretty sure they don’t ask you about your loan!

@C5Rose3 4 ай бұрын

Thanks for explaining. It's logical. I keep hearing about debt cancelation as if it's some magical occurrence.

@manuelmiranda726 5 ай бұрын

Great video with very good information.

@phuongnguyen-br7lt 5 ай бұрын

Great video! Have a great weekend.

@baldguymoney5568 5 ай бұрын

Thank you!!

@frankz7722 5 ай бұрын

Thanks bald guy, good advice, I wholeheartedly agree 👍

@jameslovell8104 5 ай бұрын

Excellent video. Subbed!

@baldguymoney5568 5 ай бұрын

Cheers!

@michelle9670 2 ай бұрын

Thank you! That was very helpful! 😊🙏

@baldguymoney5568 2 ай бұрын

Glad it was helpful!

@Bevsmith6548 5 ай бұрын

In the Weimar Republic, they increased mortgages debt by 25% , when the currency was devalued to ensure "fairness" thus reaching what they perceived as fair to both the lender and borrowers.

@baldguymoney5568 3 ай бұрын

Sounds fair 😆

@rickengman 5 ай бұрын

Very nice analysis BG...I think the very first step to securing your financial future is to become Debit free, after that if you want to speculate on a currency or debt collapse it's up to you. For me, after I became debt free I find it really hard to contemplate taking on any debt. I pay my CC bills (if I even use them) fully every month because I hate burning money on Interest. Keep up the great work BG.

@baldguymoney5568 5 ай бұрын

I’m with you. I’ve been debt free for years too - no stress!

@edb3877 5 ай бұрын

Good post, Rick. I could not agree with you more.

@shaneapplegate1975 5 ай бұрын

Thanks once again for keeping it real. I used to watch Ron's basement pretty regularly. However coin shop Chris is so out there with his predictions I can't watch it anymore. He is a fear pusher. Thanks once again bald guy for being a normal individual and not flying off the handel. I really enjoy your down-to-earth realistic channel ✌️.

@baldguymoney5568 5 ай бұрын

Thank you for the compliment. I try to keep thing in perspective.

@olddirtybastardgarage 5 ай бұрын

So essentially you are living in fantasy land that the USD won't end up like every other fiat currency in the past. Everything is going up each month, we are in the beginning before the panic hyperinflation begins.

@shaneapplegate1975 5 ай бұрын

@@baldguymoney5568 something that continues to drive me crazy on most precious metals channels I've never heard you say. When silver prices crash you won't be able to find it in coin shops or the premiums will be so high you won't be able to afford it. I totally believe this is BS. Every time the price has plummeted in my lifetime there was always plenty of it for sale at the coin shops. Also for some reason or another every time the price crashes I see more people selling them buying. Just curious to your opinion about this?

@accordio321 5 ай бұрын

@@shaneapplegate1975you might also like maneco64 channel, he is like bald guy, no fear tactics. Level headed…

@gimpee8113 2 ай бұрын

i hv watched ron basement for some time but totally drop it because his prediction is flip flop all over the place in a single day. Watching him is a waste of time and he is so long long winded.

@jondoe5536 5 ай бұрын

There are hundreds of country currencies all of different value. Some were a chicken is worth 20,000 currency units while others like Australia were the average home is over 1 million. What you are saying in some way is happening here for most wages have stayed down and the loan value is 18 x of 1 net wage after tax and also 90% loans variable. In bad times 33% unemployment leads to massive pay cut due to no jobs if you can even get a job. In 1991 Australia recession my pay was $48-60k pending commission down to $22k. Most home loans here 2 wage earners written in to their contracts.

@GOLDnSILVERStacker 5 ай бұрын

Over in the Azores they used escudos before the euro, one escudo was worth .75 CND and you could buy a beer, espresso or coke, when the euro came in it was worth $1.25 CND and one euro bought the above mentioned beverage s. People there complained how expensive everything became and a euro didn’t buy much. They never saw it coming. Gold is a good way to park cash if you’re transitioning into a new currency, should work the same way with CBDC but I doubt I’ll see digital currencies only in my lifetime. Great video topic for sure thanks Bald Guy!

@baldguymoney5568 4 ай бұрын

Cheers!!

@skyhighstax 5 ай бұрын

Thanks BG

@DougAnderson-tv1jd 5 ай бұрын

Heard about “debt jubilee” from relative over seas. Was dubious about it. Beautiful insight, thank you!

@baldguymoney5568 5 ай бұрын

Glad it was helpful! Thanks for watching.

@marshabowlin1757 5 ай бұрын

What is debt jubilee ?

@baldguymoney5568 4 ай бұрын

I shared the definition of it in this video.

@vooch 4 ай бұрын

Well done, Sir!

@baldguymoney5568 4 ай бұрын

Cheers!

@williewonka6694 5 ай бұрын

Thanks for discussing implementation of the Euro from national currencies. When its time to drop the USD, no doubt some similar stragegy will be employed. The bankers get the sweet heart deal, and the people end up paying the bill. Too big to fail, right?

@Justbetru 5 ай бұрын

Good video! The architects of our financial system have planned this out. They won’t let the masses benefit from any changes in the system if they have a say in it. They will try and install a method to take whatever you have gained. Which also makes me a little nervous about even owning precious metals. I’m sure they have a plan to try and take our gains from holding them. But if our assets are in our hands we have more of a chance at finding a way to keep them.

@edb3877 5 ай бұрын

Making deposits to The Bank of Mother Earth is a great way to preserve our wealth. 🙂

@Eli-qr9hc 5 ай бұрын

Great points. I only concern is paying interest (maybe for years) on the card before the jubilee. This would have greatly inflate my price for pm’s

@dpirkl4560 5 ай бұрын

That's why he said not to use any form of variable rate, only fixed rate. As inflation increases fixed rate payments don't. Variable can increase exponentially.

@SlumberBear2k 5 ай бұрын

The way I look at it is: If people could get away it, then it wouldn't be so easy to borrow the money. The only way you can get away with it would be in the event of a complete and utter disaster, in which case money would be the least of anyone's problems. Sort of like Pompeii when people are running back into the burning city to get their belongings.

@GerardoDelValle. 20 күн бұрын

It can happen at any moment now.

@winstonsmiths2449 5 ай бұрын

I feel you are correct in rates and bankers. I believe that debt will be revalued to the "new" fiat instrument or pegged to some other unknown value or measure. HOPE not but I am assuming that and plan accordingly.

@claudiaboelte4037 5 ай бұрын

You have just done a great service for many people. Godly wisdom here for sure.

@hugohabicht9957 5 ай бұрын

Read the fine print of your loan agreement. Typically in a currency collapse the loan reset to the the new currency. Cash is gone loans remain

@ET-sp6qm 5 ай бұрын

How many people are paying loans with cash? I would venture to say not many.

@stormeegarvin7190 4 ай бұрын

What new currency? CBDC?... 🧐 If so, that's not a currency. It's a number on a screen you can't physically hold.

@kh2140 4 ай бұрын

It's amazing how we as people need to have financial responsibility, but the government does not.

@baldguymoney5568 4 ай бұрын

Agreed!

@josephb3147 4 ай бұрын

What you miss is with a fixed rate mortgage the mortgage payment will stay the same but Insurance and Taxes will rake you over the coals... it's happening to me right now... $350 Insurance hike in one month... Taxes up as well... My insurance is now more than the mortgage... plus it had already been going up and up and then the $350 ... thanks so much Liberty Mutual

@baldguymoney5568 4 ай бұрын

Fair enough, but this is more about loans than how they’ll try to get money from you elsewhere. I get what you mean though.

@Inventive15 4 ай бұрын

A debt Jubilee would be acceptable, it's the counter to a fiat going to infinity with metal or RE.

@pl3317 5 ай бұрын

Just my ideas : Debt won't be written off, but devaluation of currencies help to pay off debt. So, I think some debt is fine as long as you have liquid assets to cover the debt if necessary.

@markbarnaart2381 5 ай бұрын

Good video , Go Lions 🎉

@zinmintun2001 5 ай бұрын

Dollars will slowly lose its value over the next 5 to 10 years (5 to 10 percent inflation per year) but unlikley will go into hyperinflation like other countries for the next 10 years. After that when or if we reach hyperinflation or near hyperinflation, the governement will attempt to swap dollars with gold back new dollars at the rate that might not benefits orginal citizens but will benefits some gold stackers. With that in mind, Fixed mortgage rate around 3 to 4 percent, it makes sense to borrow and stack gold but higher than that probably won’t.

@islandaerial3414 5 ай бұрын

The dollar has lost 98% of its value to date? The next 2% will be gone this year

@zinmintun2001 5 ай бұрын

@@islandaerial3414 I can bet that the remaining won't be gone this year. 98% loss of value over 50 years period.

@marshabowlin1757 5 ай бұрын

@@islandaerial3414what will happen to our money in savings accounts I?

@mrmaster8884 4 ай бұрын

Then 30 points above spot, Will finnish the rest lol

@dennisniemier3024 4 ай бұрын

Great information here, I Stand with TEXAS and FJB too ! 😺 😺 💕

@kevinw9073 5 ай бұрын

Fantastic update! Your "concerns" and points of interest are so valuable. I always laugh when someone thinks there will be a "debt jubilee." Any fiat system especially our dollar system which is supported by endless debt could never support a "jubilee." I just stack my gold on a weekly basis and get a good night's sleep.

@baldguymoney5568 4 ай бұрын

Hey Kevin!! Your approach is solid brother! Wishing you a great day.

@patricklexima9520 5 ай бұрын

That sounds great with a fixed rate! However, that would work only if your salary indeed increases at the same rate as inflation. Not forget the tax bracket that might change also!

@baldguymoney5568 5 ай бұрын

Remember that tax bracket changes only impact the additional money earned.

@TimothyWhittingtonYeOldeRufus 5 ай бұрын

Thanks

@brakmaster Ай бұрын

I was 17 when we switched from the Greek drachma to the Euro. All I can tell you is that within two years of the change everything became exponentially more expensive. I remember the prices of products before the euro and the prices afterwards. It was at least 3 times more expensive. Also it's funny you mentioned the Weimar Republic because the U.S. is closely mimicking that.

@baldguymoney5568 Ай бұрын

100%

@Justbetru 5 ай бұрын

If you think about it, it is really quite unethical to take out debt hoping to not have to pay it back. I would only take out debt on what I absolutely need and if it gets wiped out then view it as a gift. Intention is really going to have a big effect on what you attract.

@nichtsisttieferalsunserstaat 5 ай бұрын

Nothing and nobody disappears from the books of the states these days.

@luke_8_17 5 ай бұрын

I disagreed on then fixed loan. My fixed house payment goes up every year because the city claims the house value goes up. Yet homes in my neighborhood are not following the trend. Everything in the US economy is manipulated, just look at Gold and Silver, and the stock market. 34 trillion in debt and the US can no longer make interest payments. The dollar is soon to crash.

@baldguymoney5568 5 ай бұрын

I suppose it’s your taxes going up - right?

@bobbybishop5662 4 ай бұрын

You can file an appeal to the tax authority over your property values in almost every state. I appeal mine every year to get the value of the property adjusted . It's saved me money every year but 2 in the last 15 years.

@fabricechoquet3887 5 ай бұрын

Ho! I didn't know that, like in France, in U.S. your morgage pourcentage is stable during all the 20 years of your loan. In Canada it changes every 5 years, tree years or less depending of our decision. I don't know why it is so different.🤔

@mrmaster8884 4 ай бұрын

Canada is Broken, GTFO, Before its too late! I am.

@baldguymoney5568 4 ай бұрын

In Europe, most home loans have a variable part to them.

@renatomercurio4774 Ай бұрын

Fixed Mortages in Switzerland are no longer fixed. After 2008 the banks made them fixed for the owner only, but not for the bank. In case of hyper inflation they can increase it. So it is important not to have depth in hyper inflation or we loose our property.

@baldguymoney5568 Ай бұрын

Many people have no idea that this has happened in many places around the world.

@ghislainvandewalle3323 6 күн бұрын

At the time in 1999-2002 we had properties in Belgium and Germany. The most relevant fact we noticed in that period in time was the stunning inflation that followed, being hyped away in the media, but very very noticable in the population. In about 3 years prices almost doubled. Consequence from that experience, we made last couple of years significant real estate investments in Bulgaria's Black Sea Holiday Real Estate. Bulgaria is on the verge of getting the Euro. An almost sure bet.

@baldguymoney5568 5 күн бұрын

Amazing comment!

@EverettJohn7 4 ай бұрын

Can you do a video on the purchase of real estate using long-term fixed rate loans in a financial crisis. Assume that the buyer can afford the loan payments or that the loan can be repaid through rental income. In this particular situation it seems like going into debt to buy cash flow real estate could be a good idea to increase your wealth during a financial crisis. During the 1920s Germany crisis a man bought up almost all the railroads because the railroad profits could cash flow and pay off the loan with which he purchased them. He became the richest man in Germany.

@baldguymoney5568 4 ай бұрын

I can consider that.

@EverettJohn7 4 ай бұрын

The man's name was Hugo Stinnes. He started out with a coal mine and then used loans to purchase railroads and other transportation services. Because of the inflating currency these businesses all paid for themselves. He became the richest man in Germany.

@kayhussain8468 14 күн бұрын

Hi bold guy money hope your well I personally think that why hyperinflation takes place intrest rates will keep jumping to 50 percent plus to slow down the effect what do you think

@baldguymoney5568 14 күн бұрын

I think you’re right! Which means you can’t escape the debt.

@saintpatrick6681 4 ай бұрын

thanks

@neomisterp 4 ай бұрын

any money or assets will 'accidentally' disappear. your debt will be backed up in triplicate. save hard copies of titles, deeds etc.

@bbustin1747 3 ай бұрын

I heard that people thought their mortgages in the Weimar Republic currency meltdown thought their mortgages were also devalued to nil. From what I understand the govt repriced those assets to reflect their debt

@baldguymoney5568 3 ай бұрын

I don’t know about that specific case.

@mariohostios 5 ай бұрын

Admins will try to buy it out with the next currency. Like factoring.

@erniekeller1093 Ай бұрын

I'll keep all my debts and credits under any alternative scheme the US adopts. There would be a transition period as there was with the Euro reset. As far as I know the transition wasn't difficult.

@matthewbartz1346 4 ай бұрын

Its good to see people waking up knowing this is what is coming this year!!

@goldenremnant2610 5 ай бұрын

Unless you are prepared to reset by force, as in you are going to enforce & defend your financial will via by threat of force, you should take on debt as if you plan to bring those commitments to maturity. Consider my words carefully when pondering about what the “Great Reset” could actually mean.

@markpatzner9862 5 ай бұрын

Love this video. I agree with most of what you are saying. But with the American dollar being the world reserve currency, do you think that the bigger you are the harder you will fall? Meaning that the speed of the collapse of the dollar will be unprecedented? Would love for you to address this

@baldguymoney5568 5 ай бұрын

Good question. I think it’s difficulty to unravel the USD system since everyone is so entrenched. It will be a slow unraveling.

@markpatzner9862 5 ай бұрын

Ernest Hemingway said little by little by little than BANG is how you go broke

@markpatzner9862 5 ай бұрын

I personally believe that everything will happen this year IMO

@baldguymoney5568 5 ай бұрын

Let’s see. I’m ready for whatever.

@rolandschroeder7569 5 ай бұрын

When banks began to fail...will it be at an accelerated rate because the FDIC has limited funds to cover bank depositors? How will depositors be paid with the FDIC only having limited funds?

@baldguymoney5568 5 ай бұрын

The Fed has been bailing banks out. FDIC is irrelevant.

@Greencloud8 5 ай бұрын

I’d think it’s called a bail in

@robertnicosia5736 4 ай бұрын

In the past the bank where ur money is kept, will offer stock in the bank ( generally not worth much ). The FDIC has less than a penny on every dollar deposited. They may eventually pay you in the future. But it will be so devalued by then, you'll be lucky to receive nickel or a dime on every dollar.

@Greencloud8 5 ай бұрын

You really have made me understand what koiyosaki means by “I make money from debt”

@baldguymoney5568 5 ай бұрын

Yes!!! This is it. The debt itself will devalue if you can increase your earnings from the debt (if that makes sense).

@user-hc1sw9uu9r 5 ай бұрын

I need your advice! I currently live in a place with a geopolitical crisis: Taiwan. Because housing prices in Taiwan are very high now, but mortgage interest rates are very low. I rent a house now, but rents in Taiwan keep rising, and we are experiencing inflation now, but my salary has been very low for 20 years. What should I do? What about keeping my money?

@baldguymoney5568 5 ай бұрын

That's probably something I could help with on Patreon.

@theadirondackstacker 4 ай бұрын

Given the huge gold spot price vs gold miner stock price disconnect ; Would it be a smart idea (in theory not financial advice) to sell physical gold and buy a few premium gold miners that are insanely cheap right now?

@baldguymoney5568 4 ай бұрын

I have bought up a lot of mining stocks. Not selling my gold though. I don’t trade metals for paper. It only works the other way around for me.

@whocares5578 4 ай бұрын

Will investment accounts get affected as well? For instance, will my mining stocks get impacted if e-trade fail?

@goldenremnant2610 5 ай бұрын

I would argue that trust in USD was hemorrhaging in Europe as far back as mid-to-late 50’s and especially the 60’s decade. Taking the USD off the gold standard was a result of the US not having the gold anymore because most of the nations had already demanded and exchanged their dollars for their gold back in the decades prior.

@kaku00 5 ай бұрын

I've often wondered what happens to retirement plans during a financial collapse?

@baldguymoney5568 5 ай бұрын

Just ask people in Turkey. Payments to retirees have not even come close to keeping up with inflation which means they are much poorer than they were.

@jeremyhinken3365 4 ай бұрын

I definitely need to seek legal counsel, but if the iron-clad debt agreement specifies a specific currency for repayment, can the new debt owner refuse payment in that currency without breach of contract?

@baldguymoney5568 4 ай бұрын

Nixon closed the gold window, didn’t he? It’s the golden rule - he who has the gold makes the rules.

@paulmoore7064 5 ай бұрын

Question: Might a bank in trouble be open to someone negotiating an early payout of a fixed rate mortgage, settling for less than they would collect if the payments were made according to schedule? You might call it a bird in hand reasoning, cash now while it still has value.

@baldguymoney5568 5 ай бұрын

They might - not my area of expertise though as I've never worked in a bank.

@paulmoore7064 5 ай бұрын

OK thanx. It's just that I have some cash saved, and I'm wondering if it would be better used to retire debt or acquire more gold. I'm more inclined toward gold. I know, it's an enviable dilemma these daze.@@baldguymoney5568

@cherriethomas9538 4 ай бұрын

I am trying to decide if i should do a debt consolidation? Will it hurt my credit is there other ways to get out?

@baldguymoney5568 4 ай бұрын

I would speak to an expert at your bank - they should be able to break down the pros and cons better than I can without all the specifics.

@denisemiller6793 4 ай бұрын

What if you are retired on social security or a government pension and hav a fixed rate mortgage?

@baldguymoney5568 4 ай бұрын

I’d try to pay it off or downsize to something that I could totally own. Would take the burden of the payments off me.

@lesliewhitney81 4 ай бұрын

The explanation about the mortgages is nice. But they seem to be increasing the evaluated value of property on homeowners to try and increase the escrowed payments on fixed rate mortgages. I say this because its happening to me lol. Every single year the valuation of taxable property keeps going up raising the payment of my mortgage even though my rate is fixed. There is always a back door way to screw you.

@baldguymoney5568 4 ай бұрын

That is awful! Wishing you all the best in keeping the bank honest.

@Greencloud8 5 ай бұрын

Can you do a video of how the government makes money through debt Because printing money seems to be hurting more than helping

@baldguymoney5568 5 ай бұрын

It definitely does! Good idea.

@jb-tw6xq 4 ай бұрын

These times are special. Politicians come and go with new ones. Leadership and empires end and new structure that doesn't involve this one comes in play. The future is what it becomes. Why people think that things will continue with the same structure, I don't know.

@patrykslom 3 ай бұрын

Its super simple. If the value of the dollar goes down so does the value of the fixed dollar debt. You win inflation by being in debt. It sounds insane because people have always pushed you the other way but you have to think about it logically

@baldguymoney5568 3 ай бұрын

Yes - but you lose big time on variable rate debt.

@RedShiftedDollar 5 ай бұрын

Even a fixed rate loan can be difficult to pay off if you lose your job. Inflation makes it so people cannot afford goods and services, so a lot of businesses end up failing. This causes unemployment problems. But as long as you don't run out of cash due to unemployment, eventually you will be able to find a job and inflation will make your debt easier to pay.

@baldguymoney5568 5 ай бұрын

100%!

@sarscov9854 5 ай бұрын

We have a debt based economy. What we call 'credit' is a fancy name for future earned income. The economy is based on 'salary futures'. There's nothing inherently wrong with this. You can argue that without our modern economic system, we'd still be living in an agrarian society.

@William-Bill-Munny 4 ай бұрын

Do you believe in unicorns, student loan relief and debt forgiveness? 😅😅 History is someone will figure out a way to leverage your debt weakness. Count on it!!

@adamknowswhatshappening 10 күн бұрын

all the people that boast "I have no debt" are clearly not business owners.

@baldguymoney5568 10 күн бұрын

I’m a business owner and I have no debt.

@adamgatley8217 5 ай бұрын

Unsecured is Unsecured …can’t get blood out of a stone as the saying goes.

@silverbushman 5 ай бұрын

Remember all this is a machine that has to work for everyone to be stable.must be fixed then branched allway to the poorest that exists who desires it ..

@fredrodriguez177 4 ай бұрын

How will they value property taxes, or taxes owed from income in the dead currency.? How will rents, jobs, food be paid? Yes gold but you would need a mine and dig it yourself to produce gold. More than likely it will be the beginning of a new dark age.

@baldguymoney5568 4 ай бұрын

Pay attention to the part where I explain the currency lifecycle. Something will replace it.

@fredrodriguez177 4 ай бұрын

@@baldguymoney5568 Wouldn't this mean that all businesses balance sheets would be at zero unti customers use the new crypt to start purchasing products or services? GDP would be at zero. Even if they used the Euro it to is based on the dollar. The dollar backs the euro as well. It's going to be interesting times when this happens.

@stormeegarvin7190 4 ай бұрын

People seem to think they get a free home that their paying on when the US dollar ceases.. Could you explain in Lamens terms that no one will get to keep their homes? Or is this a fact that they can keep it? 🧐 Thank you 😊

@baldguymoney5568 4 ай бұрын

If you owe money against it, nothing is guaranteed. The bank can force you to liquidate if they call in their loan.

@jayjenkins6021 5 ай бұрын

Most of what has kept the dollar so strong in this current uncertainty is that there are trillions in loans around the world denominated in dollars and must be repaid in dollars. Sell the local currency to buy dollars to keep your loans current and the dollar stays king!

@baldguymoney5568 4 ай бұрын

Yes. But it is devaluing. There is no doubt about that.

@bribri8232 5 ай бұрын

Can you do a video with the math showing what the price of gold would be if the supposed gold in Fort Knox back the M3 money supply by %40 and then %50. I think the reset is going to happen something like that. 🎉🎉🎉🎉🎉🎉THANKS BALD GUY 🎉🎉🎉🎉🎉🎉🎉

@baldguymoney5568 5 ай бұрын

Cool idea - I just might give that a shot.

@GothamandGomorrah 4 ай бұрын

You didn't mention UBI and the erasure of debt in exchange to a full adoption of Digital Currencies in place of physical Currencies. And social credit-style systems. The whole reason why that is important is because physical assets & currencies has allowed for some personal autonomy in an already rigged system. Once you remove the access for private citizens to physical assets, you have full state control. The erasure of debt can and will be used as a means to fix a problem they created in the direction they want it fixed (Hegelian Dialectic: Problem, Reaction, Solution)

@baldguymoney5568 4 ай бұрын

You should make a video about that.

@GothamandGomorrah 4 ай бұрын

@@baldguymoney5568 i don't have the money, ironically enough 🤣 Also. When that in-depth it gets taken off youtube. Although they've relaxed tgeir rules a lot, it seems. And sorta curious as to why.