U.S. based Pimco, the world's biggest bondholder recently sold the last of its U.S. bonds. Why? Bill Gross, the head of the firm, predicts the Fed's stimulus actions are setting the stage for major inflation, which will raise interest rates and devalue bonds.
Mr. Gross, now a billionaire, who helped start Newport Beach, CA based Pimco 40 years ago and is highly respected across the world for his financial expertise, last year likened the Fed's actions to a Ponzi scheme.
Dear Reader, my intent is not to alarm you but to inform you so you can take action to protect yourself. I also encourage you to raise your voice for fiscal sanity before the U.S. government bankrupts itself and destroys the value of your money.
This great nation, one that was often a beacon of hope to the world, is sinking and needs you to come to its rescue. One determined person really can make a difference as you will find by speaking up.
Dick
Note: For more details of Pimco's actions, please see: http://www.ft.com/cms/s/0/d7b68a9a-4a7f-11e0-82ab-00144feab49a.html?ftcamp=rss#axzz1Gb8a2chH or just Google "Pimco fund cuts T-bond holdings to zero," a front page story in the prominent British journal, the Financial Times.
No comments:
Post a Comment