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<p>[QUOTE=&quot;InfleXion, post: 1300246, member: 29012&quot;]Debt accumulated from interest in October was $200 billion, which means we&#039;d have to come up with that much just to keep from getting further into debt. This is the problem with usury and compounding interest (interest charged on debt accumulated by interest instead of only on the original loan). GDP can never grow exponentially as such a debt does, and the budget cuts being discussed over the next 10 years will only address 1 year of interest alone. The amount of budget cuts and taxes for the debt to be paid back in traditional terms would be so extreme at this point that nobody will propose it; it would almost ensure they don&#039;t get any votes because most folks won&#039;t want to tighten their belts (which are already tight) after decades of living beyond our means thanks to the benefits that having the world reserve currency brings (such as exporting inflation). </p><p><br /></p><p>US debt may currently be safer than the EU area, but counter party risk will impact banks here just as well as over there so it&#039;s only a transitory sentiment. Precious metals are the only money without counter party risk, and must return to their former role in order for the debt situation to be rectified.[/QUOTE]</p><p><br /></p>

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