Bill Gross: Government Debt is a Ponzi Scheme
Today Bill Gross told reporters at CNBC that massive influxes of capital from the Federal Reserve "is in fact inflationary, and, if truth be told, somewhat of a Ponzi scheme."
Over the past seven months, Mr. Gross has slowly dumped hundreds of millions of dollars worth of U.S. Treasury bonds in preparation for what he believes is the end of the bull run in bonds.
Today, he officially announced:
"It will likely signify the end of a great 30-year bull market in bonds, and the necessity for bond managers and, yes, equity managers to adjust to a new environment."
Mr. Gross is the CEO of PIMCO, the world's largest bond trading firm - so when he ditches bonds and looks for greener pastures, investors around the world take notice.
With U.S. Treasury bonds and corporate bonds alike headed for trouble, Chief Investment Strategist Ian Wyatt of Wyatt Research is seeking out other ways to boost income.
Mr. Wyatt recently published a full report on three top dividend producing investments - that have nothing to do with Treasury bonds.
Click here to take a look at the full write up on this income opportunity.
