Your Opinion! What Would Happen If The Dollar Was Devalued By 40%

[Marchas45]

Was just wondering and would like to get opinions if the Dollar was Devalued by 40% overnight. What would happen and what would you do? I'm looking for answers, thanks, Charlie

 

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[jeff of pa]

Re: Your Opinion! What woud Happen If The Dollar Was Devalued By 40%

Unfortunately I don't know what I could do

wish I coiuld get $2 for every $1.00, everytime
I get money ?

 

[worldtalker]

Charlie, I'd surely keep my power dry! We have the GOD given right to protect our person,our family and our property! It's gettin to the point we have those that "have" and those that "have not",go figure. God Bless Chris

 

[FarmerChick]

I am sure I would be up shi**s creek real fast.

as with darn near every single other person.

40% overnight would be a global catastrophe. it would be very scary. my powder is dry and I would be taking care of mine for sure.

 

[bigscoop]

Um.....the dollar would then be worth something like -5 to -10%?

 

[gleaner1]

We better get a hell of a raise and soon

 

[bigscoop]

We better get a hell of a raise and soon

 

[Red James Cash]

If you compare the dollar against gold for the last ten years the dollar is devalued by something like 80% - 85% as of today. Another 40% well I hope people have a food supply stored. Food supply whoops that would make you a terrorist.

 

[spartacus53]

I'll cash in my Marlboro Miles, they never lose value

In addition, I also associate with people of dubious backgrounds, so I see no problem in printing out own money...

Just like Uncle Sam does

 

[gleaner1]

I guess Dinty Moore stocks would go thru the roof.

 

[Red James Cash]

I guess Dinty Moore stocks would go thru the roof.

It would be a case of only the rich being able to afford to eat.

 

[jeff of pa]

have you Bought Maxwell house coffee Lately ?

at Aldies $5.50 for a 2 Pound 1.9 oz.
can of Generic Beaumont Coffee.
(comparable to Folgers)

Comparable size cans of Maxwell house
are pushing $13.00 at the local groceries
already. I think Folgers is Higher.

I remember large $5.00 cans of Maxwell House.
just 2 years ago.

Potatoes have almost doubled around here
also.

 

[FarmerChick]

anyone not self sufficient, time to head more into that direction. I farm. I am actually ok with food and my network of people are hunters, farmers and types that DO take care of themselves. Truly, people have to have some skills in the future to survive this time 'sorta' well.


I read in an article ( and darn it I can't find the link) that China bought up all the corn darn near around the world for their cattle. This seasons crops to come are already bought. All of it. I see very bad food price times coming. (if anyone can expand on this it would be appreciated cause I read it a while ago and can't remember the darn details lol)

Times are changing. Be ready.

 

[worldtalker]

anyone not self sufficient, time to head more into that direction. I farm. I am actually ok with food and my network of people are hunters, farmers and types that DO take care of themselves. Truly, people have to have some skills in the future to survive this time 'sorta' well.


I read in an article ( and darn it I can't find the link) that China bought up all the corn darn near around the world for their cattle. This seasons crops to come are already bought. All of it. I see very bad food price times coming. (if anyone can expand on this it would be appreciated cause I read it a while ago and can't remember the darn details lol)

Times are changing. Be ready.

FarmerChick,They also bought up PECANS,they really like pecan pie!!!!!!!!!!!!!

 

[FarmerChick]

really? they bought up all the pecans?


good thing for me being southern I am in the heart of pecan trees. no shortage of those for me.

China is up and coming. They want now what others have. And they need alot of it. If they have the bucks, they can buy it all up for sure. It isn't just China either. Alot of other countries are coming into their own slowly and wanting more resources.

 

[uglymailman]

If the dollar was devalued I doubt you'd be able to tell the difference.It's only a piece of paper, has whatever value you place on it. One of these days those holding all this high dollar gold will find themselves on the short end. The price doesn't reflect the real world,just the value speculators place on it. Same thing happened w/ Tulip bulbs 100 & some yrs ago.
To farmerchick: I once read that if the Chinese wanted to give everyone in their country one egg a day, it would take all the grain the U.S. raises to feed the chickens & that might not be enough.

 

[Marchas45]

Ok gang thanks appreciate all your answers, what if the dollar was devalued by 40% and your mortgage was $150,000 would that mean it would be lowered to $90,000 or your credit card was $10,000 would that be lowered also? who wins here the banks? By the way HAPPPPPPPPY NEWWWWW YEAR. Charlie

 

[GatorFrog]

I don't worry about a 40% devaluation of the dollar because that scenario is extremely improbable.

But I think that growing your own food is a must. You can grow heirloom veggies that actually taste like they are supposed to. And it's not that GMO stuff. Newer methods of growing like hydroponics and especially aquaponics is great for the person who was to be a little bit more self-reliant.

 

[GatorFrog]

Ok gang thanks appreciate all your answers, what if the dollar was devalued by 40% and your mortgage was $150,000 would that mean it would be lowered to $90,000 or your credit card was $10,000 would that be lowered also? who wins here the banks? By the way HAPPPPPPPPY NEWWWWW YEAR. Charlie

No, your mortage would be $215k or so. Devaluation means your purchasing power has been decreased. If some thing cost $100 before, you would have to fork over $140 for the same item...
Happy New Year!

 

[Marchas45]

Ok gang thanks appreciate all your answers, what if the dollar was devalued by 40% and your mortgage was $150,000 would that mean it would be lowered to $90,000 or your credit card was $10,000 would that be lowered also? who wins here the banks? By the way HAPPPPPPPPY NEWWWWW YEAR. Charlie

No, your mortage would be $215k or so. Devaluation means your purchasing power has been decreased. If some thing cost $100 before, you would have to fork over $140 for the same item...
Happy New Year!

Well if my dollar would go down why wouldn't the banks dollar go down? I understand that it would cost more to buy food, gas and the like but essentially I'm buying dollars from the bank to buy a house hence the interest rate in dollars.