By Steve Sjuggerud in DailyWealth:

The enormous government deficits in the next few years will cause the U.S. government debt to reach 100% of GDP. With debts that big, you don't deserve to be called risk free.

If you've never invested some of your cash outside of the U.S. dollar before, now may be the time...

Which country would you rather have your money in, the United States paying you 0% interest or Country X paying you more than 10% interest?

...Government bonds in Country X now pay about 12% interest - and bond prices are rising. So in addition to 12% interest, you're getting big capital gains, too. Meanwhile, the currency is rising as well - dramatically.

So you can make double-digit returns in three separate ways here: interest, capital gains, and the currency.

Add up 12% interest, plus double-digit gains in the bonds, and the currency... and you're looking at the potential for 40% gains here annually. In boring government bonds!

Country X, you'll be surprised to learn, is Brazil...

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Crux Note: Steve Sjuggerud is the editor of True Wealth. In his latest issue, Steve recommended his favorite way to invest in Brazil. He found a fund that pays a 9% dividend and trades for 25% below its net asset value (the market value of the assets it holds). If the fund simply returns to its net asset value it will return 30%. But if Brazil's currency strengthens as expected, you could see gains of around 60%. To learn more about True Wealth, click here.

More from Steve Sjuggerud:

Gold stocks haven't even begun to soar

How to buy the world's cheapest market... at a double-digit discount

And on emerging markets:

JPMorgan predicts big emerging markets rally