A case for hard assets, page-39

How much longer can the US dollar hold its value, before a panic starts moving into gold? The Australian dollar must also be under pressure, with higher interest payments, upon the national debt.

https://www.zerohedge.com/markets/endgame-us-debt-interest-payments-about-hit-1-trillion

For context, the weighted average interest for total outstanding debt at the end of June was only 2.76%, a level that’s not been surpassed since January 2012, according to the Treasury. That’s up from 1.80% a year before, the department’s data show, and if the Fed indeed keeps rates "higher for longer", the blended rate on the debt will surpass 4% in one year.

That would be a complete disaster for the US, and it would mean that interest payments on total US debt of $32.3 trillion would hit $1.3 trillion within 12 months, potentially making interest on the debt the single biggest US government expenditure and surpassing social security!