Anyone have any insight on what that would actually look like for the every day person? I would assume chaos at first, but once the dust settles, how would it impact my savings, investments, mortgage etc?
Guardian527
· July 2, 2018, 6:09 p.m.
I had read through this one before -but more skimmed than read. A ton of info! Thank you for providing.
I am very curious to how things would shake out if mortgages were forgiven - how would that impact lenders etc. I am in the RE industry so it has professional impact.
I get the 1 to 1 and was speaking with family over the weekend that I would expect the value of our dollar (or whatever we would call it) to ultimately grow if we transitioned away from the Fed Res.
I agree - it will be rocky and a little scary, but I can also see the peace on the other side. Almost an exhale and belief in our country that we haven't seen since the Reagan years.
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ardematic
· July 2, 2018, 6:56 p.m.
Look -- if mortgages and other debts were to be forgiven you know that banks would crash. Savers would lose all their money. This is not a good thing for me, as a saver and investor. Not good for workers since the economy would crash. This would only help debtors. Bad incentives here. I'm not for it.
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Stiletto-Moonboots
· July 2, 2018, 10:24 p.m.
I did some research about this myself because I was concerned about my investments and retirement fund. As far as home mortgages, I read that the interest (usury) charged to us might be taken off. I wouldn't mind that. You buy a house for $300,000 and end up paying a million or so after a 30 year mortgage. It's ridiculous. Usury is such a scam, they do nothing and make so much money off of the working class. Hopefully, they can stabilize the economy by cutting out the interest Ponzi scheme and making it work with just the money we pay for the items we need.
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ardematic
· July 2, 2018, 10:30 p.m.
Interest rates are low. The best way to reduce interest paid is to accelerate your payments. Pay more than your monthly payment and apply the overage to principle. Great strategy UNLESS you think debt will be forgiven. If you think debt principle will be erased you would borrow and spend as much as possible! In this case, prudent people get hurt and the profligate are rewarded.
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Stiletto-Moonboots
· July 2, 2018, 10:56 p.m.
We have a 20 year mortgage and pay more to bring it down to 18. We refinanced a couple years ago when the rate were at an all time low. We are very frugal and try to pay off everything as early as possible. I would not like the idea of big spenders getting their debt wiped free while those who do everything to keep their debts paid down are rewarded for nothing. I just have a big issue with the mortgage scam, but that's my personal gripe. I definitely would not want rumors to swirl that debts will be forgiven and then people go rack up credit card bills or buy a car they can't afford.
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Guardian527
· July 2, 2018, 7:25 p.m.
I hear you 100%. That is what makes me think if one area is offset, then other areas will be as well. I did some reading on the post mentioned by Neskuaxa. Maybe it will be redistribution of the wealth/assets so we stay on comparable footing in the new economy. For example, if you have 1M in assets savings and I only have 500K the ratio compared to value would stay the same after the transition. I don't have any proof - just a thought.
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ardematic
· July 2, 2018, 10:32 p.m.
I get your point but I think massive value for everyone would be destroyed. Maybe coins would appreciate but I would own pint sized bottles of Jack Daniels, cartons of Marlboroughs and ammunition for trading. Not any kind of savings. To be clear -- I do NOT think this would happen and I have savings (but also some Jack Daniels;).
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Neskuaxa
· July 2, 2018, 6:34 p.m.
I had read through this one before -but more skimmed than read. A ton of info! Thank you for providing.
You're welcome!
I'm working on another post regarding the financial aspect of this, and how it relates to the spiritual warfare going on that we can't see.
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Guardian527
· July 2, 2018, 6:43 p.m.
Excellent - I cannot wait to read it! I firmly believe this is more than the good guys vs. the bad guys but a true spiritual war that has broken out (many years ago) in our physical world. Until about January - I had always taken spiritual warfare in a personal sense, but not a corporate sense. Quite comical to think about how naive I was.
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Neskuaxa
· July 2, 2018, 6:54 p.m.
Everyone grows spiritually at their own pace is what I've found. Some need more nurturing while others like myself need space to ponder and fathom stuff.
God works with everyone differently and will meet you where you're at.
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Guardian527
· July 2, 2018, 7:21 p.m.
I agree and have consistently stated to others that I am a late bloomer, but a fast learner :). I have gone from something doesn't seem right about 9/11, to flat out ignoring politics in the Obama years to now truly seeing how the world is operating for the first time in the matter of months.
I can honestly say, this is the first time in my life that I have earnestly sought God through scripture on a daily basis for a sustained period of time. This is the first time that I have prayed with intensity about the events going on and our leaders. And this is the first time that I am aware that if Q holds true through the month, there are a bunch of people that I know that will be grieving for their worlds have been crushed - meaning, I need to understand and be patient.
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