7 votes

Build up your personal debt before the financial collapse?

Everyone is obviously talking about the imminent financial collapse. With the same token, many have been discussing the fact that due to hyper-inflation personal debt and credit rating will be reduced to the point of near non-existence or erased entirely.

It occurred to me...why not use this opportunity to raise my own personal debt now and buy things I'd need after the collapse? Things I don't have in savings to buy. Gold, silver, bullets, guns, food-stocks, water-barrels, gasoline-tanks, etc, etc.

If anyone can poke holes in this theory, I'd welcome it because as of right now this seems like a fantastic idea.

Sure, it's not an ethical choice, but it's a survivalist choice.

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Cyril's picture


Yes, the bottom line is to stay in control of where one has put their true wealth, and not let one's current debt overwhelm one's entire future by getting out of control.

Never too late to do good.

By the way, wealth is also in knowledge and skills, in any domain.

That's what people also need to wake up to, and not let big govt decide with its depressing welfare SCAMs either.

The markets always prevail eventually, including the black ones, when that needs be...

"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

Seriously? I get down voted on this?! Okay. Whatever.

Seriously? I get down voted on this?! Okay. Whatever.

"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Yeah I thought of this plan with land payoff and silver.

Since I believe that silver is underrated, I could pay my existing land debt off after inflation hits to a degree that I could trade in my silver for huge amounts of fiat currency. It's possible that I could take an ounce or two which I paid $30 per ounce totaling $60 and pay off a massive debt. That would rob the people that sold me the land though.

I've since decided against it. It wouldn't be fair to them. They're individuals and are just trying to get by like me...

If I could rob the Rockefeller's, maybe! lol

Patriot Cell #345,168
I don't respond to emails or pm's.
Those who make peaceful revolution impossible will make violent revolution, inevitable.

Cyril's picture

I made this comment because it's a very bad idea

I made this comment because I think the OP could hurt himself much more than imagined.

Big corporate and big govt can always chase and find individuals, wherever they are.

Debt enslaves. Always.

"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius

I'd prefer the odds of having no debt

If (or when) inflation begins to set in, then interest rates will rise in order to curb this inflation from accelerating out of control. A higher than natural interest rate can cause deflation which will make paying off your debt even more difficult.

First by inflation, then by deflation. That's how you take control of a nation through the currency.

The founders would be ashamed at us for what we are putting up with.

Nothing wrong with what you suggest, it is ethical

You're not suggesting going underground while your neighbors continue to participate in a functional society. You're just speculating whether it's reasonable to take on debt when you suspect future events might prevent payback. And the answer is, of course, yes it is perfectly ethical to take out these loans.

If one loads up on affordable debt for the purpose of buying survival materials to protect one's family, and it turns out that eventual payback is overcome by world events, how is that possibly stealing, or even unethical?

As long as you don't walk away from the debt by fraud or bankruptcy, and continue to pay off the loans per the loan agreement as long as you are able--but then the debt walks away from you by circumstances outside your control--you've been wise and moral in your actions.

Take back the GOP and Restore America Now.

Oh, yeah?

So I go out and load my credit cards up, take out a small personal loan to by some "goodies," and the economy doesn't "collapse" for three years....than what. All we have, any of us, is predictions. For example, my prediction is that there will be a collapse at the end of Obama's term...but I don't know this will happen and how bad it will be. What's YOUR prediction and will it be accurate? Kinda risky, wouldn't you say? With every dollar you rack up on credit cards and loans, you "feed the beast" thru fractional reserve banking!!! I say get out of debt, starve the beast and buy what you can on your own.

I am playing it....

Could of paid for my house cash....but why? When The money is borrowed at 3-4%.....If you can't make 3-4% per year on your money something is wrong with you. People who sit with equity in their homes right now is outlandish in my opinion. Pull a loan at 4%, buy other properties at least and rent them out. Right now a $100,000 home costs $627 a month after $10,000 down. Around here that home rents for $1175 a month. This is not hard people. Yes you have to have good credit. Yes you have to have capital. And if you don't...figure it out. It amazes me when people are content making $30,000 a year when there is so much opportunity out there. Figure it out. Hell...I can make an extra $52,000 a year just dinking around with ebay.

Have you stopped to consider

Have you stopped to consider that perhaps the slight recovery in housing is happening due to unsustainable monetary policies? Further, are you aware that the post-Baby Boomer retirement wave is already in progress and that for decades going forward the population available to buy houses is shrinking, not growing? Houses are going to drop precipitously in value for many years because there is a glut.

the conversation following this article...

...is very interesting and informed - the article itself was obviously provocative, and it got a good pay off. Paul-ites are obviously well endowed in economy.

so I just have added a PLUS to the article in order not to throw out the baby with the water. thanks for all the comments.

Ron Paul ... forever.

As tempting as that may be.

As tempting as that may be, I don't think I could do it.

I mean, you can rationalize it...say you aren't stealing from people, really. (Well, you do have that quote from Romney about corporations being people.) You are taking from corporations, banks even, that don't derive their assets from the investment of the savings of others...they get their money from the Federal Reserve, which simply prints it.

That said, to plan taking something that doesn't belong to you under the pretense that you are borrowing it, that is stealing and lying.

I just noticed a couple posts

I just noticed a couple posts down that you mention you plan to move to Poland and shaft everyone you're indebted to in the process.

You're an amoral prick and this question should be buried.

I request the editor to REMOVE THIS COMMENT about Poland!

Go and get yourself informed about this Central European country - it is now among the 20 best economies in the world - and only in 1989 it won its 44 years long battle against the Soviet Occupation of it!!! I know you would use here some dumb metaphors like "behind the Iron Curtain" or "Soviet block" - since it was the USA foreign policies in 1945 that construed that stinking System OF "COLD WAR". Someone obviously profited from it, and who would that be??

If you believe that Poland's freedom was achieved by the political wisdom and doing of Reagan - then read some more. Please.

And yes, Poland was one of the few countries that did not allow the bad loans in! So it is among the 20 in 2013.

Ron Paul ... forever.

What the HELL are you talking

What the HELL are you talking about? This guy said he's going to rack up his debt and move to Poland. I don't give a shit about Poland, my post isn't regarding Poland, it's regarding theft.

Wow... LMAO! Key Largo has

Wow... LMAO! Key Largo has quite a reading comprehension problem.

check all my posts, Velveta, before you give me your final...


My comprehension or interpretation was that the author of the comment suggests the escape to Poland would resolve any legal debtor trouble in the USA.

Kinda like people escaping south of US border when having problems with law al Norte. (this IS my reading, and how is it lacking comprehension? I see rather too much of it).

In my commentary I explain why Poland is NOT like Mexico for this or other purpose. (I have forgotten to ad that Poland is also a NATO ally and has been quite present in Afghanistan. Never mentioned in the media)

And being now a member of the EU, Poland has most likely extradiction agreements with the US, just like the Great Britain or Switzerland does.

I believe the discussion of the article is taken with some humor, my request to remove the comment being likewise. After all, with the comment removed, my entire diatribe would go down the same sink.

Just curious - is "Velveta" about the Velvet Revolution?

Ron Paul ... forever.

It's actually spelled

It's actually spelled "Velveeta", which quite a different thing.

Interesting that you mention the Velvet Revolution, though. A wonderful peaceful revolution that occurred without bloodshed. America is due the for the same.

I see the spelling now.

There are no bloodless revolutions and one that is pending here will not be such. Just look at the Occupy protests and the oppressive reaction they got from the police. They were peaceful.

The Velvet Revolution in Czechoslovakia (then) to me was a "free ride" that occurred after nine years of Polish Marshal state with thousands of Solidarity leaders and participants imprisoned for many months or years after December 13, 1980 - when the Russian Army stood ready to enter and kill on the Eastern border of Poland. And Czechoslovaks died for their freedom in the year of 1968 - when the Soviets entered. There were many bloody resurrections of workers in the Soviet Block from 1945 till the 1989. That makes it 43 years. And see what happened in former Yugoslavia. BLOODY as hell.

So taking this real model from the past, the USA may become free again in 2050 or so.

I know that this article is not about Poland. I was not the one that introduced it to the discussion.

Everyone here is bothered with the mass indifference of Americans to the slow building up of fascism and lack of engagement by the people, save the Ron Paul movement and the Occupy.

I strongly believe that we could learn a lot from knowing the post war history of the Central Europe, and how it achieved its freedom at last. Slowly, and country by country, intensifying the engagement and recognizing that nothing may happen without the SOLIDARITY of people of all economical and social classes. First it was workers alone. Then intellectuals alone.

I strongly believe that, slow as that final success was, it was helped by the totalitarian One Party system that was imposed there by the Soviets in 1945 - everyone easily unified against it, as they were already united in fighting the Germans.

The American two party system is a devilish invention - that date of 2050 as the year for freedom I suggested above may be much too optimistic. Here we are still the pions of the two parties, spilling hatred against each other as if the Civil war has never ended. It is not accidental that no third party has any chance of rising big. Ron Paul was wise to eventually ride the Republican ticket, and so is Rand. Ron Paul had all chance to win in 2012 - were it not for what was done to him by the media and the RNC. As scary as fascism can be. And the process goes on.

Ron Paul ... forever.


That's the point of the collapse - the tab is wiped clean after it. So, no one really gets screwed by actions like this.

There are many of us that are tired of paying

for lazy ignorant people like you. I work half my life to support clowns like you. What the hell are you doing on a site that promotes freedom anyway? FOAD!


I don't understand

What is with the animosity? I was asking for advice on this plan - I'm not even sure if I'm going to do it. I've never taken a loan out on anything. I've always saved and bought used.

You don't know anything about me or how I live my life so don't presume to act like you do.

It means you appear to not understand the fundamental

reason for virtually every problem on this planet. Leveraged credit and fractional reserve lending. If people just pull their own weight, no one becomes a burden to the rest of us. The very idea that you are considering it means you are trying to stir the pot or are just plain ignorant. And if you have saved and bought used your whole life, then you should already know the folly of your conjecture. I apologize, but all of us should be reinforcing education and not promoting damaging concepts that are counterproductive and completely anti-freedom.


You are a complete idot and ahole

You are forgetting that when the whole system collapses, it wipes out those of us that actually worked our asses off and saved and never borrowed or go in debt and lived within our means. You and people like you are the problem. Go get a job at The Goldman Sachs. You'd fit right in you ignorant prick.



Unless you can guarantee that

Unless you can guarantee that this is going to happen, I wouldn't make any stupid decisions and ruin your life. If you're going to do it, be prepared to ruin yourself financially for an indefinite period of time, because they will be pulling a lot of shit to make sure nothing bad happens for years to come.

SteveMT's picture

Agree with you 100%.

The debtors will be easier targets, and the system will round them up first saying that they illegally misappropriated money. The non-debtors who haven't already been taken will be the last ones sent to the FEMA Camps.

I really like the way you put

I really like the way you put it. Glad to know non-debtors get to live a few more days.

Believe it or not, it is

Believe it or not, it is still about 2 years before interests rates take off and big inflation sets in. Do not take out debt on credit cards as the interest, which can fluctuate, will eat your lunch. Now, if your house is paid off and you can get a new 20 or 30 year fixed interest loan below 6% or so, that would be a good idea. I doubt anyone could just go out and get an unsecured loan in today's environment, but 5 to 10 years from now a $1000 a month house payment would be chump change, IF you still have a job!


I guess I would want to consider what I was investing in. I, certainly would not consider paper money a good investment. Now, water tanks, wood heating system, cool storage, etc. might be a good thing to invest in.


they institute debtor's prisons again then that would kind of backfire on you.

for me this is an ethical dillema and I wouldn't be able to live with it.

"Once you become knowledgeable, you have an obligation to do something about it."- Ron Paul

I have to agree with you Awl

We TRIED the ethical choice.

Those of us who gave our money, energy and time to get Dr. Paul nominated already did our part.

But we were belittled as kooks, nutjobs and uncompassionate.

So how anyone chooses to proceed from here is fair game as far as I'm concerned.

Sure - go into debt. What are they going to do when it collapses and EVERYONE is in debt?

Thay can't go after everyone.

The main thing is to buy things of VALUE. Not stupid things like vacations, movies, eating out etc.

But gold, silver, ammo, liquer, real estate or even improvements on things you already own like automobiles or your dwelling.

Besides, you'll be paying back the debt with lower-valued, inflation wracked money, especially if you can get a great (locked-in) rate on money today.

If you lock it in today's low low rates, it's your creditors who will get screwed (when the FED can't hide the inflation anymore) and the dollars you pay them back with are worth a lot less than they are today when you spend them.

I say go for it! But be sensible about it.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul