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U.S. Debt Now Declared Unpayable

by David EngstromMarch 06, 2010

Much has been said, of late, about budget deficits, our national debt and the prospects that the U.S. may never be able to pay back those debts.Well in one special report, released by the Financial Sense Univerity and written by Darryl Schoon, the announcement has been made, Theamount of outstanding US debt has now reached levels that can never be paidoff:

The report cites . . .

"… the United States government and its agencies have, by far, the largest pile-up of interest-bearing debts ($15.6 trillion), the largest accumulation of unsecured obligations (over $60 trillion), the largest yearly deficit ($1.6 trillion), and the greatest indebtedness to the rest of the world ($4.8 trillion). MartinD. Weiss, www.moneyandmarkets.com"

The report goes on to discuss the potential to inflate ourselves out of debt by devaluing the dollar, but suggests that in the end the only real option may be default.

The report is lengthy but should be read by everyone so as to pass on an understanding of the severity of our debt situation.And while the author paints a rather gloomy picture of the situation ahead, he does suggest a solution.

He says, "Buy Gold, Buy Silver, Have Faith." Whatever happens he who holds a few gold coins will have a better opportunity to survive than those who don't.So for more information call the Gold Hot Line at Lear Capital 1-800-965-0580 or your personal gold advisor for the latest gold recommendations.

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