text: Chicago Gold and Silver Investing Fan Blog: September 2012
  Posted on 09/14/2012 in Armageddon in not near, it is hear, Federal Reserve, Gold, Silver | Permalink | Comments (2) | TrackBack (0)
  Posted on 09/11/2012 in Banking, Defintions | Permalink | Comments (0) | TrackBack (0)
  Posted on 09/04/2012 in Gold, The End of This World As We Know It, US Economy | Permalink | Comments (11) | TrackBack (0)
  The Real Fiscal Cliff is Coming With a Rise in Interest Rates
  One of my favorite economist Peter Schiff writes a great article called The Real Fiscal Cliff.
  Schiff describes a possible fiscal cliff scenario.
  Currently the United States has a national debt of about $16 trillion. Interest rates are near historical lows (below 2%). Debt services payments are about $300 million.
  But what happens in a few years when the situation changes. In 5 years our national debt could hit $20 Trillion. Combine that with a rise of interest rates to near historical average of about 5%. If we hit those numbers our national debt service payments could top $1trillion dollars a year. That is an enormous amount close to 40% of the total revenues that the Federal government collects in a year. This scenario would be disastorous for the United States government.