Deny Debt » Economics http://denydebt.com Freedom from Debt Sat, 02 Jan 2010 14:13:36 +0000 en hourly 1 What happens to your debt when if the economy collapses? http://denydebt.com/what-happens-to-your-debt-when-if-the-economy-collapses/282/ http://denydebt.com/what-happens-to-your-debt-when-if-the-economy-collapses/282/#comments Mon, 23 Nov 2009 12:00:10 +0000 pcgumban http://denydebt.com/what-happens-to-your-debt-when-if-the-economy-collapses/282/
Colin asked:


Let’s say I owe (to US based companies) $1,000 to one bank, $100,000 to another, and $5,000 to a credit card company. (I don’t actually owe this money.) If the US economy were to collapse, what would happen to this debt, or what would happen in a situation like this?
What is the difference between an economic and a country collapse? What defines them?

John
]]> http://denydebt.com/what-happens-to-your-debt-when-if-the-economy-collapses/282/feed/ 1 Would this strategy work to help clear some debt and reduce inflation? http://denydebt.com/would-this-strategy-work-to-help-clear-some-debt-and-reduce-inflation/260/ http://denydebt.com/would-this-strategy-work-to-help-clear-some-debt-and-reduce-inflation/260/#comments Mon, 14 Sep 2009 03:36:32 +0000 pcgumban http://denydebt.com/would-this-strategy-work-to-help-clear-some-debt-and-reduce-inflation/260/
don asked:


Just sell our stash of gold we have in Fort Knox…I am sure it is a lot. I guess it was estimated at 137 Billion during the Eisenhower era…

But anyways I assume we have bought and have more stored than that now. What if we were to sell it to China to clear debt? This would help stop inflation. Not sure of any other consequences.
Our money hasn been backed by gold since 1971.

Ada

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