muses of the moment

January 22, 2014

News from Pimco

Filed under: Economic Crisis, Global Debt, Martin Armstrong, US Government Debt — totallygroovygirlfriday @ 4:42 am

Much more interesting than the departure of El-Erian is two other little tidbits in this article that you may or may not be aware of. Click here.

Over all, investors pulled $47 billion from Pimco funds last year. It
was the first year on record that Pimco had net annual outflows.

This confirms Martin Armstrong’s prediction of capital flight from bonds to something else.

A statement from the company said that Mr. El-Erian would leave Pimco in
March but keep some leadership roles with Pimco’s parent company, the
German insurer Allianz.

Pimco is not about bonds, it is about insurance. The insurance industry is losing money. The insurance industry is one of the many familiar institutions that will have to figure out another way to make money or make much less money in this Great Reset.

Banking, insurance, and global government debt are closely intertwined. A crack in one affects all others.

Business models that worked for the last 50-75 years will not work as they did moving forward. Those that adapt will survive, those that don’t, will not. Bail-outs and bail-ins only buy time, they are not new business models (contrary to what CEOs may think).

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