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US debt downgraded by Chinese debt rating agency

Although this agency does not have a lot of influence just the fact that these kinds of comments are reported is enough to create a watershed moment in history.

“Although the U.S. federal government managed to avoid a default crisis for the moment, its solvency remains vulnerable as for a long time the U.S. government has maintained its solvency by repaying its old debts through raising new ones, said the agency”

“To avoid the debt default, the U.S. government has been taking advantage of the international currency dominance of the U.S. dollar to monetize its debts and has been taking quantitative easing monetary policy to maintain its government solvency, which directly damaged creditors' interests, said Dagong”

http://news.xinhuanet.com/english/business/2013-10/17/c_1328...