Take the time to read through this post from Zero Hedge. Even if numbers aren't your thing, they have done a good job laying it out for folks like me who have no experience in big, profession money.
Our politicians are left with very few choices, on the surface: Default on chosen programs, print more money and send inflation through the roof, or raise the debt ceiling and borrow more from our enemies.
Professional money guys can find ways to put off the inevitable, as we have seen for years. Most recently we've seen Treasury play games to get us beyond the May 2 X Date.
I am not trading all of my paper dollars for hard assets - yet.
But someday will be the day to do so. Someday, sooner than later, all of the digital dollars you have in the bank will simply cease to exist, and at the same time the buying power of the paper in your pocket will weaken tremendously.
Gold? Silver?
Lead. Food. Those are the proper investments, my friends.
The true X Date is impossible for anyone to pinpoint.
But it will happen in our lifetimes.
Good luck.
Kerodin
III
