As Bill is quoted in the article: "Who will buy Treasuries when the Fed doesn’t? The question really is at what yield, and what are the price repercussions if the adjustments are significant." Bill is just one of many financial experts with great track records who have been sounding the alarm on our government debt level, currency policies, and the economic consequences. These guys with sterling track records are ignored while people like Bernanke, with a record of being wrong over and over, are given credence. Can we afford to pay even the interest on our debt at 5%? How about 10%? Or, how about even now? World history is littered with wrecks like this, but, like they said of the stock market in ’99, "it’s different this time".
PIMCO Total Return dumps U.S. government-related debt | Reuters: www.reuters.com/article/2011/03/09/us-pimco-debt-i…10309