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Author: Gold Why Webmaster
Date: May, 2011
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I'm on a roll today! I just uploaded a really cool article about Gibraltar Dog Gold Coins and am now thrilled to answer a Gold Why question! I couldn't be more excited about the question today because it's really fundamental to my entire purpose for creating this website and investing in gold bullion. I have a huge backlog of Gold Why questions and am trying to power through one of them each and every week going forward. If you asked a question, I want to sincerely thank you and let you know that the answers are coming (thanks so much for your support and patience). And now, without further ado, today's awesome Gold Why question...

Question: If the dollar crashes and we have to return to the gold standard, will my mortgage on my house disappear since my mortgage is based on the dollar?

Answer: I love this question. It's a very complex question and one that opens a discussion that could be debated for hours. In my answer today, I'm going to focus on the specific question, and also my broader theories around gold bullion coins and mortgage loans (I am a homeowner after all and both are topics are always top of mind). First and foremost, I don't think we're going back to the gold standard. I think it would be great, but the fact of the matter is it's not practical given the amount of gold in our world today. There's not enough gold in the world to cover the national debt of the United States ($14.3 trillion and growing). Also, changing political strategy is like steering the Titanic - changing the mode of thought in Washington and championing support around a gold standard (in my opinion at least) seems impossible. Now, don't get me wrong, I would love to go on the gold standard and am a huge fan of Ron Paul. I even think we can have a partial gold standard where we back the dollar with at least a little gold. That said, I just don't think it will happen.

I Do See Continued Inflation Ahead

Now, even if we don't go onto the gold standard, I do think the price of gold is well poised to continue appreciating. Gold is currently at $1,493 per troy ounce and I first started buying back in the $500 range. My returns have been tremendous (better than any other investment I have made) and I see much higher prices ahead. As our national debt keeps growing and we keep printing more money to pay our bills, inflation has nowhere to go but up (in my opinion). Gold is just about the best investment around and I recommend checking out my top 10 reasons to buy gold coins. Reason 7 is all about inflation. In short, I see inflation continuing and I see the price of gold bullion appreciating (a lot) over the long term.

Let's Pay Off Our Mortgages With Gold Bullion Coins!

Here's where it gets really interesting. If you're locked into a fixed rate mortgage (like myself), your monthly payment will never go up. Also, property taxes stay steady too (at least where I live) and are based on your home's purchase price. Now, let's think about the inflationary scenario we're in... Inflation is here to stay. Gold coins will keep appreciating (in my opinion). However, your mortgage payments will stay flat. My goal in life: Pay off my home mortgage loan in gold bullion coins. I truly see this as a possibility and it's my ultimate financial goal. I think this will certainly take a lot of time (and I'll need more gold coins that I have now since I'm a smaller time gold investor) but I do see this as a possible reality. Now, maybe I won't pay off the entire mortgage loan in gold, but I feel like I can definitely make a dent. I'm not an investment advisor and have that disclaimer at the bottom of each page on this site. In my personal situation, however, I have chosen to buy gold coins and also purchase a home with a fixed mortgage. I view this as a sound strategy, especially with today's depressed real estate prices. Thanks again for the question, it was an awesome one!

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