Dollar, credit ratings, China, short-term debt
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All Comments (204)
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@elementswi2007 Read more closely moron....
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@pismo10 yes you are... you dont beleive what hes saying? your eyes must be glued shut and your ears full of wax.
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@helltrackrider sooo true. i'd love to see peter and ron paul together.
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Say, have you heard of a YTer called 'dsglop'? He's got a real bug up his ass about Peter Schiff and is constantly criticising his blogs in a really dopey fashion.
I haven't done enough research on economic matters to really take him on, but it's quite obvious to me that he's a mega troll. If you have 10 minutes to kill, take a look at one of his uploads and say sumthin' derogatory. It would really make my day :-D
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@monsieurmitosis haha, I agree. I imagine it's more likely that China bought our bonds bc it mistook them to be a good investment, but it does give A LOT of political leverage.
And now China is releasing it's US debt securities... oh the fun.
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@IWashMyOwnBrain Word on the street is China recently announced they got out of 7% of their US bond holdings and plan on releasing more.
Although I imagine it's more likely that China bought our bonds bc it mistook them to be a good investment, but it does give A LOT of leverage.
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Debt safety ratings are based solely on the ability of the debtor to repay the debt in the same monetary denomination as it was originated. This means that the U.S. treasury securities always have 100% safety, because the Federal Reserve Bank can print as much digital currency at the speed of light to redeem the bonds/notes. Rating agencies don't consider "purchasing power" in rating debt safety. You will always get repaid, but the value of the future dollars may be greatly debased.
Peter daily points out the long list of absurdities that led to this, my question for him is does he honestly believe that is all a series of coincidences, or would he concede the possibility that this was done by design and intentionally by a select few...
uwmbigb 1 year ago 4
China downgrading its rating on the USA didn't shock me. China can smell America's financial b.s.
Melville10 1 year ago 3