Off with our heads!

[Skybird]

http://www.pimco.com/Pages/OffWithOurHeads.aspx

Pimco is the biggest bond fund in the world. They have just reduced their share of US treasury bonds from 31% to 21%, expressing doubt about Obama's policy of raising debts that way. Other US and international funds are expected to follow their example sooner or later.

Recently, the US got warned that it could loose its triple-A rating anytime soon.

At the same time, China's financial aid initiative to suppoort some struggling Euro-countries, and in the third world, has surpassed the spendings of the worldbank in totals. Go figure the ammount of influence and ties they are buying themselves this way.

Meanwhile, once again Germany'S Merkel is giving up resitence to turn the currency union even more into a transfer union. Rumour says that she is no longer resisting to sink even more German tax-billions into the Euro rescuing fond. Since the beginning of the Euro 1999, it has lost 22% in value (understood as purchasing power), due to inflation. The dollar in the same time lost 25%.