|
The old
saw states, “if you can’t beat ‘em,
join ‘em”. This is how civilized people
act, accepting they can’t always “win,” –
particularly when squarely in the wrong. Then again, children handle
things differently…
http://www.youtube.com/watch?v=jPHIocuPF88&am...player_embedded
It´s My Party – Problem Child
Video
Since Global
Meltdown I commenced in late 2008, TPTB have gone on an ALL-OUT BLITZ to
delay the inevitable, employing every possible manner of MONEY
PRINTING, MARKET MANIPULATION, and PROPAGANDA (including data and accounting
chicanery) to “kick the can down the road.” And when I say
“kick the can down the road,” I’m referring to attempts to
prepare themselves for the END GAME, by robbing
the public to ensure their own well-being following the coming
FINANCIAL ARMAGEDDON.
From early
2009 through mid-2011 – notwithstanding the “first Greek
Crisis” in Spring 2010 – “they” patted themselves on
the back, having apparently fooled the world into believing the most
massive MONEY PRINTING operation ever had “fixed” what was
wrong. However, when Global Meltdown II commenced last Summer,
TPTB’s “leverage” turned against it – in spades.
This time around, not only banks were failing, but the sovereign
nations that lent the banks TRILLIONS of dollars, Euros, and Pounds.
Stock markets once again plunged – led by financial stocks
– forcing even the most “connected” rating agencies to
DOWNGRADE their most valued “clients”…
S&P
downgrades U.S. credit rating for first time
When
Standard & Poor’s stripped the U.S. of its AAA rating last August,
it was truly a “shot heard round the world.” Not the credit
downgrade – as anyone with an eighth of a brain realizes the
U.S. can NEVER pay back its debts – but the fact that S&P challenged
the authority of the government. Not surprisingly, two weeks later,
its President “resigned”…
Deven Sharma to resign as president of S&P
…and
since then, S&P has said NOTHING about the U.S. credit rating, despite
the government having FAILED to fulfill ANY of the cost-cutting parameters it
warned of last August…
We could
lower the long-term rating within the next two years if we see less reduction
in spending than agreed to or new fiscal pressures during the period result
in a higher general government debt trajectory than we currently assume in
our base case.
Two months
ago, the lesser known Egan-Jones
rating agency downgraded the U.S. for a second time, from AA+ to AA.
Egan-Jones is considered the ‘fourth rating agency’- after
S&P, Moody’s, and Fitch – but is clearly the least biased by
“client fees.” No business has greater conflicts of interest than
securities rating – as those being rated typically pay the
agency for the privilege. However, some rating agencies (hint: the “Big
Three” noted above) are more “buyable” than others…
Egan-Jones
Downgrades USA From AA+ To AA, Outlook Negative
And what
do you know, just two weeks later, the U.S. government SUED
Egan-Jones, once again “crying at its party.”
SEC
Emerges From Carbonite Deep Freeze, Sues Egan-Jones
Rating
agency goals may be conflicted, but after losing nearly ALL
credibility during Global Meltdown I – by issuing AAA ratings to
clients such as Lehman Brothers, Bear Stearns, and AIG –they clearly
shifted their business models in an effort to regain credibility.
Moreover, given the experience of S&P and Egan-Jones when they downgraded
the U.S. government, REST ASSURED anything negative written of sovereign
nations is GENUINE!
Moody’s
warns it may downgrade UK rating
Since last
summer’s commencement of Global Meltdown II, ratings agencies
have diligently downgraded EVERYTHING IN SIGHT – except the U.S.
government, of course – in a perpetual state of “Negative
Outlook” on dozens of sovereign nations and thousands of
banks. France, Italy, Spain, and a host of TBTF banks have come into their
crosshairs, many with highly detrimental ramifications…
Spain
borrowing rates soar after Moody’s downgrade
Thus, the
article below shouldn’t surprise anyone, describing “THE
ULTIMATE ACT OF COWARDICE…AND DESPERATION” – a
“boycott” of rating agencies by their corporate clients. It’s one thing for governments to strong-arm
rating agencies – especially the U.S., given its ability to PRINT MONEY
at will. However, for corporations requiring investor capital,
shunning ratings agencies – especially in today’s
environment of FINANCIAL COLLAPSE – is pure business suicide, yet
another example of how the “brilliant” Wall Street and London
bankers are no smarter than the millions of layman they denigrate
and patronize.
European
Banks Preparing To Boycott Big Three Rating Agencies
In my
mind, this decision represents another act of blatant corporate hubris,
destined to be looked back on history as a major symptom of the coming
END GAME…
PROTECT
YOURSELF, and do it NOW!
|
