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U.S. loses AAA credit rating from S&P

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posted on Aug, 6 2011 @ 06:37 AM
reply to post by Libertygal

"International supervision over the issue of U.S. dollars should be introduced..."

Xinhua said.

Well that isn't going to happen is it?

In fact, I can't quite get over the level of cheek displayed by the Chinese in suggesting it.

Make no mistake, as soon as China started talking about the US dollar being replaced as the world's reserve currency, a few years ago, they overtly declared economic war on the USA.

Now they appear to not like the reaction - the US printing dollars to (1) inflate away the US debt to China and (2) cause inflation in China.

posted on Aug, 6 2011 @ 06:43 AM
Times up, Mr. President.

posted on Aug, 6 2011 @ 06:44 AM

Originally posted by ren1999
I'm going to give you all two world line scenarios and you decide which one we travel on.

The First Scenario
U.S. soldiers come back to the U.S. to contain open domestic terror attacks.
Tent cities rise all over the U.S. but the media remains quiet about the collapse.
We start squatting in houses after the rich flee to France.
We all start farming vegetables in yards that are not our own.
States start to secede from the Union.
Every person in each divided territory is forced to join the military of their territory.
The magnetic poles shift.
The earth starts to get hot.
People start going north to Canada and Siberia.

The Second Scenario
The Republicans give up and allow increased taxes and spending to create building jobs.
Obama hires all the unemployed to work on the roads.
Troops come home from all over the world except Asia.
Minimum wage is increased to meet the cost of living in each area.
The economy recovers.

First scenario seems more likely, but in this poles shift scenario will Canada and Siberia still be in the north.

posted on Aug, 6 2011 @ 06:51 AM
reply to post by ollncasino

Probably not, but the fact they are calling for it, and the rest of the world may now start listening is substantial. Especially if they all decide on a one world value based currency likely based on gold, and simply leave the US out by design or the simple fact we have no gold to use.

Could we revisit the gold seizure of the past? Possibly, but more than likely, we will just be relegated to becoming a third world country, and have to almost start over from scratch with factories, mining our own resources, and creating items here again instead of outsourcing everything. We have nothing to speak of in this country to support ourselves except fiat currency. We see how well *that's* going,

China and India and other countries have been buying gold by the tonnes. This ain't coincidence. The cries for one world currency have come from enough other countries that it is now not a conspiracy theory, but a very possible reality.

The only thing we have done thats possibly smart has been to *not* drill our own oil, and to save it till everyone else runs low, then we have a real bargaining tool.

Lets hope they restocked our reserves though, got a feeling we may be needing it soon.

posted on Aug, 6 2011 @ 06:52 AM
reply to post by ollncasino

WEll you sir need to get a bridge... Actually we need to all get our own personal Bridges..I would say we should all get a collective bridge but the free market groupies will call me a "commie".

We have had a chinese takeover of the USA and not a bullet has been fired on either side. All the chinese used was the ideological blindness of the so-called free market economy to conquer the west.

Being white or black does not matter. We are all Gwai Loh (Barbarians).

Didn't anyone see Bladerunner????? That cultural dominance was oddly predictive.
edit on 6-8-2011 by Tiger5 because: add a bit

posted on Aug, 6 2011 @ 07:02 AM

Originally posted by burdman30ott6

U.S. loses AAA credit rating from S&P

NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.

S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.

U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.

(visit the link for the full news article)

Get ready for 1 of 3 things:
1) The market takes a nosedive on Monday setting the stage for civil unrest.
2) A "completely spontaneous and unforeseen" terrorist attack occurs to divert attention from this situation...setting the stage for civil unrest.
3) A "completely unforeseen" natural disaster or disease outbreak happens--setting the stage for civil unrest.

OK...ultimately only one thing is going to happen: CIVIL UNREST.

BUCKLE UP!!!!!!!!!!!

posted on Aug, 6 2011 @ 07:05 AM
Credit ratings by country
Countries with AA Ratngs:
United States
Abu Dhabi
New Zealand
Saudi Arabia

Countries with AAA Ratngs:
Hong Kong
Isle of Man
United Kingdom

posted on Aug, 6 2011 @ 07:09 AM
reply to post by beezzer

Is it just me, or in the later speech, is he starting to sound more and more like Bill Cosby!!!

posted on Aug, 6 2011 @ 07:12 AM
reply to post by BadMagician

The CME's you speak of already hit the earth. Nice try at fear mongering though. I give you an AA+ for effort

posted on Aug, 6 2011 @ 07:19 AM
S&P got raided by the italian government just two days ago. my bet is that what they found is that S&P does its rating not based on objective reasons but to influence markets. the reason why S&P was the first important rating agency to lower the US credit rating is to counter possible upcoming allegations regarding their corrupted behavior.

posted on Aug, 6 2011 @ 07:25 AM
reply to post by ren1999

I've been telling people this for a while. The parallels between us and the defunct ussr in view of the the build up to and our current situation are uncanny. The way things go, if there isn't a change of players at the top, ie violent overthrow and drastic punishment delt, we will see secession and all the nastiness the diving of an empire entails. Of course, the poor, elderly and vulnerable will continue to suffer at pronounced rates unless SOMETHING finally sparks a unifying rage amongst the populace. You can see the elite fear this too by the amount of paid shills increasing right here on ats vs regular critical thinking members nowadays.

posted on Aug, 6 2011 @ 07:26 AM

Monday's market is gonna be a brutal demonstration of why this country made a woefull series of terrible mistakes in leadership election over the past decade

Decade? You mean century, right?

posted on Aug, 6 2011 @ 07:26 AM
You feel like Charlton Heston? THE Charlton Heston?

That guy was a loon!

Seriously you need some better role models over there...Crikey!

posted on Aug, 6 2011 @ 07:34 AM

Originally posted by Campy61
reply to post by neo96

Myself I live for the moment but prepare for tommorrow. But you never know if your going to have one.

for the past few years, when people complained. i'd tell them, these are the good old days.
enjoy life, have a nice day.

whatever you still have, you should enjoy.

most people i know paid off their mortgages years ago.
the lower your cost of living, the better your life will be.

friends were mad at mortgage companies contacting them.
everyone knew it was a scam except in Washington?

i;m always amazed when politicians and wall street claim that they were caught by surprise by the real estate collapse.

friends and relatives were talking about this 10 years ago.

on their golf courses and yachts, are they that out of touch with reality?

posted on Aug, 6 2011 @ 08:03 AM
Wasn't this week on Wall Street the worst week since October 2009? There was a compromise on the debt-ceiling the weekend before that. So, it could be assumed that this was not the reason why DJ fell so much. It looks like some players on Wall-street knew about the downgrade before it happened. I don't think there will be a probe into the insider-trading, but how are foreign investors going to have confidence in America if this doesn't happen?

posted on Aug, 6 2011 @ 08:08 AM
Well it is coming up on 9am in the US East Coast.

How are you guys taking the news??

Any signs of increased amounts of buying in the stores?

posted on Aug, 6 2011 @ 08:18 AM
Surely less credit is a good thing for the US right now? Like if you have a son or daughter spending too much you take away their credit card...

posted on Aug, 6 2011 @ 08:22 AM
reply to post by FOXMULDER147

Its a wakeup call yes, But just like a credit card being taken away from a spend happy child. You still need to pay off the balance, usually faster, or under supervision. And at higher rates should you try to borrow more.

posted on Aug, 6 2011 @ 08:27 AM
Rating agencies are pointless, this downgrade means nothing really.

Unless, financial institutions are no longer allowed to carry U.S government debt and I do believe there are regulations that prohibit them from carrying assets rated below triple A. If those regulations are in place then the USD will quickly lose its status as the world reserve currency.

posted on Aug, 6 2011 @ 08:29 AM
Gee.... bet if I owed trillions of dollars my credit rating would not be so good and the government and banks would be quick to tear me a new one........ Why do we put up with this?
edit on 6-8-2011 by gimme_some_truth because: (no reason given)

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