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Rod_Seiad
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"Money For Nothin' Writing Checks For Free" ( 16:42:48 FriJan 4 2013 )

By Sam Forgione

NEW YORK (Reuters) - Bill Gross, founder and co-chief investment officer of bond giant PIMCO, wrote in his first letter to investors this year that money printing by central banks will lead to a destructive bout of inflation.

Gross, who has criticized the Federal Reserve's purchases of Treasuries and agency mortgage bonds in past letters, wrote in his January investment outlook entitled "Money for Nothin' Writing Checks For Free" that the purchases will lead to a devaluation of currencies and gradually weaker investment returns.

"The future price tag of printing six trillion dollars' worth of checks comes in the form of inflation and devaluation of currencies either relative to each other, or to commodities in less limitless supply such as oil or gold," Gross wrote.

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Every gold prospector should keep this sort of awareness in their dreams and memories.

Get out there, find YOUR gold.

  

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