It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
The soundbite of the day comes from AFP which quotes the infamous Chinese Rating Agency Dagong, known for being a little too truthy, which told state media Global Times what everyone already knows but is afraid to say out loud: "'In our opinion, the United States has already been defaulting....Washington had already defaulted on its loans by allowing the dollar to weaken against other currencies - eroding the wealth of creditors including China, Mr Guan said."
Oddly enough, this contradicts Tim Geithner's heartfelt appeal that the US is pursuing a strong dollar policy. The Dagong announcement follows on the heels of various reports from earlier this weeks (most notably the SAFE announcement which was subsequently pulled) which are urging China to not only pull its US holdings, but to minimize its USD exposure in total. Now if only Moody's would opine on the stealth 1.5 TARP Chinese bailout we noted earlier this week, then the full out credit rating cold war would be on like Donkey Kong.
Originally posted by MamaJ
reply to post by TruthWithin
Ok...so what exactly does this mean? I have always been a researcher in the "unknown" as my reality within the Government seems useless as I feel so powerless against anything that is going on.
With that said, as I have gotten much older and see America changing at a rapid rate I am now struggling to understand it ALL.
So....again, what does this mean ( to dummies).
Also, is there a solution to bring back the American Dollar and economy in your opinion?
Is it possible (and forgive me if this sounds stupid) that if you do not "own" your home the bank or government will be able to at will take it?