From CNBC: Stocks and bonds will be virtually worthless and gold and
hard assets will be the only investments worth having unless the U.S. tames its
addiction to debt and deficits, Pimco's Bill Gross said Tuesday.
In his widely followed monthly Pimco investor newsletter,
the CEO of the company that runs the largest bond fund in the world paints a
stark picture of the domestic financial picture. He said the nation has lost the trust of
financial entities including the Congressional Budget Office, International
Monetary Fund and the Bank of International Settlements, each of which lately
has published critiques of international finance.,…
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