President Obama will ask Congress to increase the debt ceiling by $1.2 trillion by December 30 as end-of-year interest payments come due.
(1888PressRelease) December 28, 2011 - MIAMI, FL - Imagine if the average householder needed to increase their debt load, just to pay interest on their existing loans. Yet this is just what is happening in both the US and Europe.
At least, in the US, the existing debt is close to the GDP, unlike some European countries where debt levels have risen far in excess of this. Nonetheless, we have several major world economies that appear to be drowning in debt and we have to wonder just who is prepared to keep loaning the money, or buying government bonds. At some point, a point that must be getting closer daily, there must be a day of reckoning.
For the last thirty years, in every period of political and/or economic turmoil, gold bullion has emerged as the clear winner. Gold and silver bullion and coins have acted for decades as a feasible alternative to cash; they have an intrinsic value due to their rarity, beauty and functionality and cannot be devalued in the same way as fiat currencies. Some financial experts are already prophesying 'doom and gloom' scenarios where the current monetary system is completely destroyed, along with the savings and retirement funds of millions of Americans, and - presumably - many Europeans also.
"Gold offers a safe haven against inflation, deflation or recession," says Bill Hionas of Pan American Metals of Miami. "In virtually every economic crisis for the last three decades, gold has outperformed every other asset. Gold offers wealth protection and, if we believe even some of the gloomier prophesies, precious metals will continue to offer the best protection in the coming year."
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Website: http://www.panamericanmetalsofmiami.com
Press Contact
Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
President Obama will ask Congress to increase the debt ceiling by $1.2 trillion by December 30 as end-of-year interest payments come due. 
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