Well said paltinum. Many are forgetting that the old debate in August last year when the ceiling was 14,3 trillion USD had been bypassed and the debt is now only months later 15,6 trillion.
Silver and gold will go as high as the debt hole will go.
Might as well add, that Bill Gross Founder and CIO of Pimco, managing 250 billion USD said for the first time 2 weeks ago "I recommend hard assets to our clients".
He know the bond market in and out, and he says Fed will hint on QE3 in April. Why? housing in the US has still not bottomed, case/schiller index is lower, and lower. And everytime we think we get a bottom we go down in a few months. Fed will have to buy Mortage backed securities, and keep up the growth so jobs can recover.
AXU will deliver in the end. 2 resource estimation around June/July, 2 new mines in Q3/Q4 which will add production boosts big time for 2013.
"We favor high quality, shorter duration and inflation-protected bonds; dividend paying stocks with a preference for developing over developed markets; and inflation-sensitive, supply-constrained commodity products."