1. A computer implemented method of cache bounded reference counting for computer languages having automated memory management, comprising: fetching a reference to an object “Z” initially stored in an object “O”; querying cache hardware whether the reference to the object “Z” is a valid reference, is in the cache, and has a continuity flag set to “on”; if the object “Z” is a valid reference, is in the cache, and has a continuity flag set to “on”, locking the object “O” for an update, decrementing a reference counter for the object “Z” if the object “Z” resides in the cache, and setting a return code to zero to indicate that the object “Z” is de-referenced and that its storage memory can be released and re-used if the reference counter for the object “Z” reaches zero; after handling the object “Z”, querying the cache hardware whether an object “N” that will become a new reference of object “O” is a valid reference, is in the cache, and has a continuity flag set to “on”; if the object “N” is a valid reference, is in the cache, and has a continuity flag set to “on”, incrementing a reference counter for the object “N” and storing an address for the object “N” into a pointer of the object “O”; if the object “N” is not in the cache, storing an address for the object “N” into a pointer of the object “O” without incrementing the reference counter for the object “N”; and providing a pre-defined return code if the object “Z” is de-referenced and allowing re-use of the storage memory of the de-referenced object while the de-referenced object is still in the cache.