Till June 7^th, the national debt of US is around $8.85 trillion. This means that the annual interest on this huge amount of debt is over $406 billion. This explains why a huge number of debt reduction companies have emerged in the market.

Everyone knows that gold is the real money. US has the largest gold reserves in the world. According to a report published in December 2009, US official gold holding is 8,133.5 tones. In 1948, the total gold reserve was about 21, 7000. This means that the current gold reserve is slightly higher than that it held in 1948. Gold is traded at $1, 1000 per ounce. This makes it $35,200,000 per ton. Now, US gold reserve is about 8,133.5 tones or $286,299,200,000. It is indeed a lot of money but it is a fact that we have lost touch when it is compared with our debt.

US debt and gold

The proposed budget for 2011 is $3,830,000,000,000 which is around 13 times larger than the total gold reserve in the country. The deficit from this budget can’t be predicted due to the steady decline in the revenues but it will be around 6 times larger than the gold reserves. The total gold production in the world was 2,330 tons in 2008. At today’s price it is around $82,016,000,000. It is claimed that in this year the government will have to borrow around $2,000,000,000,000 or 24 times the total gold production of 2008.

Our current national debt is around $12,350,000,000,000. It is more than the gold value of 3 solid gold aircraft carriers at $10,243,200,000,000.  Average Americans are overwhelmed with debt. They are enrolling themselves into the debt reduction programs such as debt settlement, debt consolidation, and bill consolidation. Scammers are taking advantage of this situation and innocent people are loosing their money. It is claimed that the situation will become better if we borrow one solid gold Titanic every year.

Thus, it is evident that the situation is not good. The total amount of debt is rising day-by-day. There is no way by which one can pay back such amount of debt. It is predicted that more and more people will enroll themselves into the debt reduction programs in this year.

If you are in the market for some gold coins, check out how to buy gold coins online. Buying gold coins online can give you a much wider marketplace for the more rarer coins, as well as a easier price comparison of the various coins you come across. If you decide to buy online, there are two basic methods for going about the buying process, one involves auctioneer sites, the other involves speciality stores.

If you decide to utilize auctioneer sites to help you buy gold coins online, be sure to check the legitimacy of the site and the listing before you make a bid. Buying from an auctioneer site can give you an opportunity to get a better deal on gold coins, but the reliability of these sites as well as quality assurance isn’t always top notch. It is best to go with the well named, published brands of auctioneer sites that offer buyer protection in the case you come across a mislabeled listing. When buying gold coins online you never know if you are getting the real thing, or a replica, so be sure to arrange a quality assurance time with the buyer that gives you time to check into the quality of the piece you buy before closing the opportunity to return the coin.

If you decide to buy your gold coins through a speciality site, you have a much higher chance of getting quality assurance with your coins, but it comes at a price. Speciality stores may give you a more reliable purchase, but the prices you pay for gold coins on one of these sites can steadily outweigh the price you would pay in an auction format. That doesn’t mean that there aren’t good deals with speciality sites, just you aren’t as likely to come across the fifty percent and above savings that an auctioneer site can provide. Similar to the auctioneer site, you need to check into the legitimacy of the website you purchase from before making any form of payment, or giving out any personal information. Also check and be sure that the site you purchase from has a return policy that advocates a quality assurance time on your part.

Overall if you are looking into buying gold coins, check out how doing a basic search in a search engine can bring about several sites online for you to purchase from, and how to buy gold coins online.