wengem

The End of Gold, Part Three

Lance & sickofthehype... correct me if I'm wrong, but if inflation went as high as you say, wouldn't interest rates also go through the roof? As a result, only those homeowners with fixed rate mortgages would benefit. Anybody with a variable rate would get slammed... unless the lenders voluntarily let them off the hook by refinancing them into a fixed mortgage at the pre-inflation rate. And if they were willing to do that, then why not just let the underwater homeowners off the hook now?