Rex Connor to run Ruddbank

U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 10 Apr 2009 at 05:46:36 AM GMT is:
---------------$11,150,425,053,759.15-----------------
The estimated population of the United States is 305,973,687

so each citizen's share of this debt is $36,442.43.
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just wait until the unfunded entitlements kick in. you aint seen nothing yet!

2) Even with this mans expertise on the subject the "True Debt" of the United States is not known. But it can be generalized. One problem with the Wiki and the normal reports of major US backing sources is that the United States includes "Services" in the calculation for GNP (Gross National Product) as well as "Energy Production" - this leads to false indicators of economic strength. Fully 2/3rds of the current GNP of the USA is energy and services.

Bottom Line - when you own the people making those 'reports' and set the standards and guidelines for how they are done; then you can basically control what people think is really going on.
I am no expert in international finance, but I think Mr. Turk's estimate is very low, and the 'real debt' is much higher.
If you were to factor out all non-exports, weigh that against the current gold reserve (currency backing) add those two together and then subtract Import Debt from that you would come up with a MUCH larger number.

According to Wiki the public debt in America is less than in Germany?? Can someone explain?

{http}://en.wikipedia.org/wiki/List_of_countries_by_public_debt

I disagree to the words beyond that which are;

"and currencies in general." I want to tell clearly that losing confidence in dollar does not mean losing confidence in any currency. The credibility of a currency is retained by its ability to retain value. Gold is valuable because gold retains its value in terms of other goods. Dollar is losing its credibility because USA is printing it a lot to finance its trade deficits and for such unprodictive activities like Iraq war. Dollar had lost value during Vietnam War also. If USA stops indulging in such expesnive wars, its currency would start appreciating. Wars are also contributing to trade deficit though of course outsourcing is the bigger reason for trade deficits. Additionally USA needs to manage its dependence on external oil and start withdrawing from its own oil reserves of Alaska. That would kill the bargaining power of gulf countries and arrest rising oil prices. All these would again bring confidence in dollar. Finally if dollar loses credibility because of bad economic management by the US Government, its competitor Euro is gaining ground followed by other currencies like RMB, Yen, Indian Rupee. Hence my conclusion is, "People will not return to gold because gold does not have the flexibility and efficiency of paper currency, but people will return to the currency which is best managed by its government. It can be dollar, it can be euro, it can be RMB, it can be Indian rupee or any other best managed currency, but it will certainly not be gold. paper currecny is like candidates in a democracy where people have no choice but to choose the one who is the smartest among the group, though the group itself may sometimes contain all mediocres.