The Gross National Debt

April 2010 Comment:
David Walker, former U.S. Comptroller General and head of the Government Accountability Office, worries that we are dangerously close to a "tipping point" with respect to our debt that, if exceeded, could lead to sharply higher interest rates and a plummeting dollar. In the worst case scenario, the end-result could be a global depression.

Walker warns, "Nobody's going to bail out America."

Unless tough choices are made in Washington, the American standard of living is unsustainable. Sadly our government has proven time and time again that they won't make those tough choices; choosing instead to kick the can further down the road toward that "tipping point" which Mr. Walker is rightfully worried about. (see video below)

Gold is the classic hedge against just about everything Walker warns about in this interview. By willfully choosing physical gold instead of conventional dollar-denominated bank deposits and bonds as your primary form of savings, you can effectively "wash your hands" of those debt-ladden risks.

_______________