FORMER TOP ACCOUNTANT OF USA: "AMERICAN ECONOMY UNSUSTAINABLE"

Greece, Ireland and Spain are reported to be facing huge sovereign debt issues.  Developed and sovereign countries going bankrupt? Who would have thought this was possible?

Who then is David Walker?  ....
He was formerly the TOP Accountant of the US government.  Therefore, his chilling revelations will make you think .... his findings and conclusion?
US is in massive debt trouble and The American Economy is Unsustainable.




The American National Debt Counter

GOLD vs US Dollar

MAJOR HIGHLIGHTS

Spot Gold prices ended in the green on Tuesday despite strength in the dollar.

International demand for US assets rises on the back of record bond purchases.

MARKET RECAP

Spot Gold prices gained on Tuesday despite a stronger dollar as demand for the yellow metal as a safe-haven increased as markets became wary ahead a host of economic data releases in the later part of the week from the US and China. Gold prices could trade higher in this week as expectations of further weakness in the dollar could support an upside. Officials of the Federal Reserve Bank said yesterday that lending rates in the US may remain low for as long as two years.

The Federal Reserve has kept its target rate at zero percent to 0.25% since December 2008 to revive the economy. Lower interest rates in the US reiterate that the world’s largest economy is still struggling with the worst financial crisis. This concern over economic growth could trigger traditional safe-haven demand for gold. Economic data from the US has come on the negative side and indicates that the world’s largest economy is still fragile.

On the Currency front, the Euro weakened sharply against the dollar on Tuesday after German ZEW index came in much weaker than expected at 47.2 in January versus expectation of 49.5. The Indian Rupee depreciated on Tuesday as strength in the dollar put pressure on the currency. Strength in the dollar coupled with a decline in equities led to depreciation in the currency.

OUTLOOK

On expectations of lower interest rate in the US, the dollar is expected to weaken further. Weakness in the dollar will help gold prices as a weaker dollar will make the yellow metal look attractive for holders of other currencies. In 2009, the rise in gold prices was mainly backed by the weakness in the dollar. Gold prices could continue to witness an uptrend in prices and the bullish phase in the yellow metal could continue.

On intraday basis, Spot Gold prices have immediate support at $1130/$1123 whereas resistance is seen at $1143/$1150. Spot Silver prices shall find support at $18.45/$18.20 whereas resistance is seen at $18.90/$19.10.

Depression and HyperInflation.

Where is the economy going?
Buy silver while it is still below US$20/oz.....

Ron Paul - Discussing Austrian vs Keynesian Economics

Ron Paul spoke about impending housing bubble since 2003.  Yet he was ignored!  He says we are now building another bubble.  Should we now listen to him?

Gold to Reach $5,000/oz by 2012

Jan. 12 (Bloomberg) -- Robert McEwen, chairman and chief executive officer of U.S. Gold Corp., talks with Bloomberg's Erik Schatzker and Deirdre Bolton about the outlook for gold prices. McEwen expects gold prices to increase to $5,000 an ounce between 2012 and 2014 as rising U.S. government debt depreciates the value of the dollar.

The Fort Knox Gold Scandal - The Still Report

The debt money system is the biggest Ponzi scheme in history and it is about to crash , we cannot pay our debt cause our money is debt itself , Gold based money is still a debt money explains Still , there are two major problems with gold Still explains , first Gols can be counterfeited , and second gold can be easily manipulated by few powerful on the top , a gold money system is still very easy to control from the top ...

Chinese Government Calling for Its Citizens to Buy Gold and Silver

If the Chinese government is calling for its people to invest in Gold and Silver, what do you think will happen to prices if these precious metals?