Does inflation equal reduced debt?

[Mike]

If the US dollar collapses and the US experiences inflation will that reduce the debt of individual Americans? The answer seems obvious, however I would think that the bankers are a little to slick to let their creditors slide out from under their debts.

[Issachar]

If the US dollar collapses and the US experiences inflation will that reduce the debt of individual Americans? Mike, the US dollar has been collapsing for nearly one hundred years which, among other things, is causing us to experience inflation. Compare prices of cars and houses and food and clothing and everything today, to prices in 1900 or 1950. Then you will see how rampant inflation has been. Some would argue, "so what, wages have gone up too". While that is true, wages have NOT kept up with inflation and never will and never has. There is a reason that banking systems create inflation ..... it's NOT so we can all live the same standard of living only with more to spend. :scratch

This stuff does NOT reduce the debt of the individual. It INCREASES it. Since the 1960's, Americans have gone from saving, on average, 20% of their incomes to negative 2% of their incomes. The fallen human nature has not the wisdom necessary to tighten the belt in hard times. Rather, "the flesh" will do whatever it can/has to in order to maintain, if not increase, it's standard of living. It (the flesh) loves what brings it comfort so much, that it will give up sense in order to get. No, inflation is the destroyer of nations and empires. It will always happen until our Lord returns because that is the propensity of the human nature.

For the life of me I cannot remember the name of a movie I saw back around 1957 or 8 ... I was little then ... but I remember these men in space suits on some planet (probably Death Valley :) ) ... they had to stay in shadows along cliffs because of the intensity of the sun there ... but, there were chunks of gold lying about this place ... they proceeded to pick them up by the arm full ... but then, a pile of rocks started moving ... then stood up ... there were monsters there, bent on the destruction of these men from earth, made out of rocks! Of course, with arms outstretched, they moved menacingly towards the men. The men were so hampered by the weight of the gold they were carrying, they dropped it in order to get back to their space ship faster ... except for one man ... he kept his gold despite his shipmates pleading with him to drop it and hurry to safety ... he ignored them, backing slowly away from the approaching monster .. at last, he unwittingly, wide eyed, stepped out of the protection of the cliff's shadow and immediately burst into flames. He died trying to hang on to his gold. Now, we know this is a silly movie because in reality, at best, only one of them would have dropped the gold to save his life. :)

Issachar

[fisherofmen]

Good question.
I guess my thought would be no. The amount of dollars in debt would still remain the same. It would just be an inflated and devalued dollar. I hope someone with more knowledge replies as well.
Rick T.

[medbiller777]

movie I saw back around 1857 or 8

Isaachar,
Was it a talkie movie?? Thanks for my morning laugh!:pound:hehee

[Issachar]

You misquoted me! It says 1957 or 8! :pound

Seriously, thanks for catching that. :) I guess I would have been REAL little back then.

Issachar

[Big Daddy]

If the US dollar collapses and the US experiences inflation will that reduce the debt of individual Americans? The answer seems obvious, however I would think that the bankers are a little to slick to let their creditors slide out from under their debts.Inflation has been an ongoing experience for a very long time, as another has said.

It has been controlled and regulated by the Fed, and could be compared to a classic Ponzi scheme in a way. As long as the process is slow and gradual, no one will feel the effects to badly. There is just a slight uneasiness that you have to work harder to make ends meet.

At some point there will be a collapse, and it will be total, where the whole system fails. At that point there will be a great exchange of wealth, instead of a slow gradual one. The institutions that set this up will make up new rules and a new system and wipe out the old. There will be an exchange of the old money for the new, and it will start all over again.

The medium that is used to exchange goods and services will be different, but the debt you owe will still be there.

You could look back in history and see where other economies have failed and how hyperinflation prevailed just before the fall.

Money is just an easy means of exchanging our labor.

When you borrow money on a promise of supplying some future labor, you have enslaved yourself to the person or institution that lent you the money.

[Mike]

Do you think that the people pushing for a North American Union and converting our currency to the Amero are pushing it because they foresee the collapse of the dollar?

Also how would debt be converted to an Amero after the collapse of the dollar, for example a car loan?