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Pimco chief warns of end of the credit era

When the world’s most prominent bond manager maps out the collapse of the developed world credit system it can’t be dismissed out of hand.

Pacific Investment Management Co. (Pimco) co-founder Bill Gross manages the world’s largest non-government bond portfolio, which stands at well over $250-billion (U.S.). In the latest of his widely-read monthly commentaries , Mr. Gross posits that “money may be running out of time” as it becomes steadily more devalued by credit growth: