It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by LowRiderrr
reply to post by MajesticJax
It is only a matter of when, not if... When hyper-inflation takes hold of the US economy, and as peoples mortgages come up for renewal
they will be forced to refinance at MUCH higher interest rates. Leaving them with payments they can no longer afford.
Very similar to what happened after the artificially low rates after 9/11 induced many people to purchase homes, only to find that a few years later, they had to refinace at higher rates, causing their monthly payments to increase substantially.
Originally posted by thewind
reply to post by Animal
Sorry mate, but aparently you don't understand much about hyperinflation. When hyperinflation hits, this means that a major currency change will indeed happen. Then, when the bank that's gonna be controlling the new currency, which in case will be the imf, that banking entity will demand that all people with loans, whether it be for homes, automobiles, credit cards, etc, refinance all their debt, or lose what they have put up for collatoral that secured those debts. So yes mate, this will force you, me, and anybody else in debt to "refinance" whether we like it or not, and at the interest rate the bank sets.
As of last night, in global trading, the dollar again silently slid further into the abyss!