4 votes

US Credit Downgraded Again

We still have a chance to pull this one out of the fire, but only if we change direction soon.

Vote Ron Paul.

http://news.yahoo.com/us-credit-rating-downgraded-again-0501...



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You have much to learn Grasshopper

We don't have a chance to "pull this one out of the fire" nor do those of us who understand how the financial system works really care.
It's all a scam anyway, they want a world currency and are systematically collapsing currencies in the process. Not that the currencies are any better because it's got the same owners.
Watch "Money Masters" and "The Creature from Jekyll Island" and you'll start to get it.

lol no you can't pull this one out

as soon as someone decides to dump the dollar, we'll all be paying for the borrowing through debased currency.. unless we dump it ourselves before them, but either way, there is no saving the dollar.

besides the reason to dump dollar in the first place (or we ourselves default, which means we will be dumping bonds anyway and deter any future lender) will be that either we or someone else brings challenge to dollar's status as a functional trade medium/world reserve currency, because when debts are not made good by their promises to repay, credit will completely freeze up and the currency it represents will basically lose all of its functionality as a trade medium, since a trade medium or 'cash' is just some form of promise of future payment, a temporary IOU.. when that trust is broken, it will be broken and there is no way to restore it.

as for the timing.. it is possible the more credit becomes frozen for a currency, the less trade value it has because it can no longer facilitate an economy.. which will be interesting because initially people associated frozen credit to rise in the value of dollar, but eventually a frozen credit may lead to its demise because it loses its real world value since it no longer backs real world activities.