Upon insurmountable debt, the failure of government owned Fannie and Freddie and the obviously unending spending frenzy of the government how can the credit rating agencies still be giving US credit the highest rating?
It is rumored that back in the first Bush administration that the executive branch threatened the credit rating agencies when they considered downgrading the US credit rating.
Some argue, myself included that being that we have resorted to printing more money and hence devaluing our own l in order to pay our debts, that we have, in any sane evaluation, destroyed our credit rating no matter how S&P or Moody’s grades it.
Others argue that the credit rating can only be maintained through the sovereignty of the US military, in essence making the US the safe haven for currencies of all types. I think there is a valid argument there, but it could lead to the dollar no longer being the de facto currency of the world.
It as also arguable that upon recognition of this fact, and the complete disintegration of the dollar based economy and therefor any economy that is so tightly bound to it (all of them basically) that the only safe money is in commodities that will inevitably result in returning to a bartering economy.
Could this be just the stick that the liberals need to shove the one world currency down the throat of the US citizens? See http://www.youtube.com/watch?v=7nD7dbkkBIA and www.bilderberg.org on one world currency. The long version of Russo’s opinion http://video.google.com/videoplay?docid=-1656880303867390173
I am not saying that all of this is gospel, but check it out.
Give me control of a nation’s money supply and I care not who makes its laws.