As the US finally closes the 2010-11 fiscal year with a whopping $1.228 trillion in new debt including an additional $95 billion overnight, one wonders how much longer this surreal fiat currency game of kick the can down the road will continue?

From Zerohedge :

America has now officially closed the books on the 2010-2011 fiscal year. It is only fitting that the last day of the year saw the settlement of all outstanding and recently auctioned off debt. The result: a surge of $95 billion in total government debt overnight, and a fiscal year closing with the absolutely unprecedented $14,790,340,328,557.15 in debt. Net net, in the past fiscal year, the US has issued a total of $1.228 trillion in new debt and has accelerated over time. At a rate of $125 billion per month, total US debt to GDP will pass 100% in just over a month.

$95 bilion overnight makes the UK look positively frugal with *only* £15.9 billion of borrowings in August and a 2011-12 debt forecast of £127 billion or so.