"Bill Gross, who runs the World’s Biggest Bond Fund at Pacific Investment Management Co., eliminated government-related debt from his flagship fund last month as the U.S. projected record budget deficits."
Note: Bill Gross dumps the bonds first, then makes the announcement, so as not to devalue his holdings before sale or let buyers know he was dumping the bonds.
See the words of the prophet in the reprint of the Thanksgiving Post on this blog predicating the devaluation of NY Bonds and the subsequent increase in interest rates requiring a large budget increase to cover the higher rates. Also, link to Rating New York Bonds
At Thanksgiving Fest, NY Bondholders And Cuomo See The Hand Writing On The NY Capital Walls
The words, Mene, Mene, Tekel, u-Pharsin, written by a God of Justice Disrupt the Albany Victory Celebration (King Cuomo, Silver, Paterson and Sampson in their blue uniforms with their new committees behind them)
*picture described in note #1 below
CuomoTARP has obtained two translations for the handwriting "Mene, Mene, Tekel, u-Pharsin" on the walls of the NY Capital Buildings. It was the same Aramaic words the Babylonian King Belshazzar saw on the wall in Babylon around 539 B.C., *See historical note #2 below
Translation #1: Mene, Mene, Tekel, u-Pharsin translates to Number, number, weigh, divide in two." And the meaning is the same, for both King Andrew and King Belshazzar, "God has numbered your remaining days in power; your number is up; you've been weighed and found deficient; and your State will be divided up financially and given to its creditors."
A Creditor: One of a tribe of savages dwelling beyond the Financial Straits and dreaded for their desolating incursions.
~ from Ambrose Bierce's Dictionary
~ from Ambrose Bierce's Dictionary
Chinese creditors crack their whip on the Bernanke/Obama money printing scheme.
Follow the economic reality trickle down below:
China and Russia have decided to renounce the US dollar
Fears of Domino Effect Pervade Europe: Loss of Confidence Extends From Ireland to Spain, Portugal; Bond Spreads Widen as Euro Tumbles
Belgium's debts to record levels in situation made worse by broken political system
Now, see the world economic reality trickle down into NY on this blog:
another $6.8 Billion missing from the Cuomo Budget Plan.
NY Comptroller, DiNapoli, now promises safe returns of 7.5% (or Madoff has a bridge for Sale)
The Final Prophecy: from the Ghost of NY Yet To Come: the Trophy of Total Fiscal Failure.
Now, the translation #2 for NY Bond Holders:
Mene: Count your bond values now
Mene: Count your bond values after the credit rate rises, inflation increases and bond desirability decreases *See notes 3 and 4 below
Tekel: Same as shekel or watch your money
U-Pharsin; Your bond values will be cut in half
The Words of the Prophet to bondholders:
Sell now and not cry later
*note 1 The hand-writing upon the wall is a print etching and aquatint, hand-colored by Js. Gillray and shows Napoleon, Josephine, French soldiers and women seated at feast with dishes "Bank of England," "St. James," "Tower of London," and "Roast Beef of old England." Napoleon looks in horror at hand of Jehovah pointing to words in sky: "Mene mene, tekel upharsin."
note 2 from Daniel 5:25–28: "And this is the writing that was inscribed: mina, mina, shekel, half-mina. This is the interpretation of the matter: mina, God has numbered the days of your kingdom and brought it to an end; shekel, you have been weighed on the scales and found wanting; half-mina, your kingdom is divided and given to the Medes and Persians.
That very night King Belshazzar is slain, and Darius the Mede becomes King. (The end of the Babylonian Empire and the beginning of the Persian/Mede Empire)
note 3 short course with graphs showing inverse relationships of bond prices, interest rates, inflation
note 4 simpler explanation of bond value changes
