I understand you perfectly, I think its you who doesn't understand what Gold is and that is obvious by your posts. Maybe debt was wiped out during weimer days but do you seriously think that if the U.S. dollar falls to say 20% of what its worth now that all debts will be forgiven.
Really that is pretty naïve to think that all banks in the U.S will not keep those records in this modern day and age and will just forgive all those debts. The thing that will most likely happen is the US will reset the value of the other worlds currencies as they are doing with the Yuan right now. China has agreed to float the Yuan. They could even pump up the value of Gold and peg the dollar to the Gold Standard.
Regardless of what happens to the US Dollar the debts will be debts still, perhaps the debt will be debt in the next currency if they change the name but it will be debt on a pro rata basis.
In this day and age people with a lot of debt in housing will most likely end up like the people who had a lot of debt in housing in the US and that is bankrupt and selling their properties for a pittance of what they paid for them. In Australia debt stays with you forever unless you pay it off or declare bankruptcy. In the US the housing debt stops when the bank forecloses on your property. Not so in Australia if the bank forecloses they will sell the house and then give you a bill for the rest of what you owe and the legal costs involved, I know Ive been through it. And you may spend the rest of your life paying it off.
