Jason,
You have OTS, or Old Tank Syndrom. This happens when people do not do water changes and it will kill any new fish you put in the tank. Your old fish will get used to it, but eventually they will die as well.
Nitrates over 40ppm can kill. The only way to remove them is with water changes. Do not do a whole bunch at once. Start with 20% every day for about 4 days, then step up to 50% a day until your nitrates are down to under 10ppm. You don't have plants, so 0 ppm can actually be your target.
I'm not even going to get into the nitrites issue. That reading is totally outrageous.
You must do water changes every week and test your water as well!
Now you can thank us for saving your giant gourami, because it would have died -- maybe not today and maybe not tomorrow, but most certainly soon -- had we not repeatedly told you to test your water.
Roan
[Edit: the more I think about this the more angry I have become. Jason, I'm sorry but you've been here for a while now and it's obvious that you either don't read any threads on proper fish keeping or just don't think that things can happen to you or don't really care. Regardless, I'm tired of people trying to help you and all you do is ignore their advice and then trot along on your merry way. Take this as an "adios", because I will no longer help you with anything. I'm also sick and tired of trying to decipher your "cyberspeak" crap.]