Pan American Metals of Miami says Euro Zone Debt Pales Compared to that of the US

Top Quote US debt dwarfs that of European nations. End Quote
  • (1888PressRelease) November 14, 2011 - MIAMI, FL - Attention has been focused squarely on Europe for some time now, with first Greece, then Italy taking the spotlight and two prime ministers being brought down by untenable debt loads. In fact, virtually every country in the European Union is spending in excess of its revenues; in other words, like all too many people, living beyond its means and relying on credit to pay its bills. The crises in Europe have captured the media's attention and have clearly affected the markets, driving investors to seek safe havens for their money as they lose faith in the euro, and other paper currencies. Yet the debt load in Europe pales into insignificance when compared to that of the United States.

    It is not so long ago that the financial markets were on edge for fear that the US might default on its foreign debt and the crisis resulted in a downgrading of the nation's AAA credit rating. The US has a debt of $15 trillion, approximately equivalent to its GDP, but continues to spend $1.3 trillion a year more than it takes in revenue. Yet this is apparently forgotten as Europe takes over the headlines and investors rush to the dollar for safety.

    "Clearly these levels of debt can not continue unchecked for ever," says Bill Hionas, CEO of Pan American Metals of Miami. "Eventually there will be a day of reckoning. Dealing with debt by printing more money will simply serve to devalue the dollar and investors will find the intrinsic value of precious metals bullion far more attractive."

    Pan American Metals of Miami is located in Miami Beach, where it is convenient for clients from North, South and Central America.

    About us:

    Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.


    Press Contact

    Debbie Bailey
    Executive Administrator
    Pan American Metals of Miami, LLC
    Email: dbailey ( @ ) investpanam dot com

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