Debt What you're not supposed to understand

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Top bond man tells the truth the financial industry doesn't want to hear

Short course in how the world works.�

It's all about bonds. Stocks are glamorous and go up and down, but it's the health of the bond market that determines the health of the financial system.�

Until last week, Bill Gross ran the biggest bond fund in the world, PIMCO, with $2 TRILLION dollars under management.�

The financial news media has had a field day ridiculing him recently.�

Why?�

Because he made one bad call?�

I don't think so.�

The problem with Bill Gross is that he has a high profile and high credibility - and he is telling the truth:

Here it is:�

We need insanely low Fed rates or the whole system is going to blow up

It only took a real rate of 1% to blow up the financial system back in 2006 and 2007.

The Fed claims two things that I don't think are true:

1. They, not the market, control rates

2. They know what they're doing

When you cut through all the endless smoke, mirrors and BS, we're wired for implosion.

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What you're not supposed to understand

The financial system is f^%#'ed

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Top bond man tells the truth
the financial industry doesn't want to hear