Today in an article [1] posted on his website Bill Gross says that US investors should begin to diversify out of dollars before central banks do so - something he sees happening a few years down the road.

Foreign currencies and select gold stock picks [2] would seem to be the best alternatives for US investors looking hedge themselves or even profit from a falling dollar.

Gross wrote, "fortune-producing capabilities seem to be declining, which might suggest that its relative standard of living is doing so as well. If so, the implications are serious.”

The US debt to GDP currently is about 45%, with annual deficits of 10% the debt to GDP ratio will pass the 100% mark in the next five years. That is a level at which rating companies and markets view as a point of no return.

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