I assume that by government raising interest rates you are implying the Federal Reserve Bank.
Please be advised that the FED is not a government agency, but rather a private for profit bank owned and operated by the international banking cartel. It sits astride a veritable artery of gold as it leeches the wealth of the country from the people all the while setting the stage for the impending economic disaster about to unfold.
Further, any interest rate increase will likely only serve to exacerbate the coming depression which offers to make 1929 and the subsequent years seem like a party.
Soon you'll only be able to keep that which you can defend.
I agree. There cannot be a defense of the dollar without causing a severe economic downturn. This is Bernanke's nightmare. The only solution to dealing with the debt is to devalue the dollar and make the debt worthless. This, of course will cause skyrocketing PMs and other real assets. the writing is on the wall. It's not a matter of if, but when.