When the levy breaks it will first be four days a week where gold rises $20. One red day a week will not even pull gold back. Then ounce gold starts going up hundreds of dollars everyday, presumably next Fall, there will be no red days. By that time the World Bank and IMF will trying to mitigate what will be a 180 degree philosophy of economics that was left for dead amidst food riots and demands better made than asked for.
Is America joking? Bill Gross just dumped Treasuries en masse and went into cash. Treasuries are for saving, dollars are for doing something with, so what is Gross going to do with all these billions of dollars? Perhaps this move by the world's largest bond fund is signaling the next market crash, yet equities have pulled back minimally (granted some stocks are being butchered) and gold rises.
What will Bill Gross do with Pimco's billions? Bread for the 20% unemployed, and circuses for middle class Americans who ask for their rights. Rights are to be demanded. No one asks for rights. This is happening because the politic is subservient to the Hegelian dialectic. There is no us and them, it is everyone, and we all have free speech, whether it is by a union of consort or by an individual alone, we all have the right to be heard.
What the pensioners could get is a different story altogether. Denominated in fiat and those paper IOUs that have no backing may transform by the Fed's inflationary wand. Who wants dollars? Other than Bill Gross. Oh and once again, what will Gross do with all those dollars?