Updated over 13 years ago on . Most recent reply
#2 Off Topic Contributor
- Real Estate Investor
- the villages, FL
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super inflation does what to dollar???
#2 Off Topic Contributor
- Real Estate Investor
- the villages, FL
My wife asked me a question today and like most of her questions, I didn't have an answer! As someone who owns condos in Mexico that were actually under construction when the gigantic devaluation came to that country and saw the results, I'm wondering what might happen here. Please don't give me the bull crap replies on gloom and doom. That is not the reason for this question.
In Mexico, when the devaluation came they simply lopped off to zeros from their money and created a new money known as the peso Nuevo or new peso. The old money basically became worth nearly 0 overnight. Would this ever be a possibility here? I have always kept a good supply of actual dollars to be able to make payments on those items that have fixed monthly payments. This question made me wonder if there could come a time when those dollars would not be usable at the same value they show before a possible devaluation or super inflation.
As I mentioned to my wife, I don't have an answer to that. I do know when this occurred in Mexico if I wanted to see my condo get completed, I had to deposit additional funds above and beyond what my original contract called for. Additional thoughts, ideas, and suggestions are appreciated