Why the US has been downgraded and not Britain.

The ratings agency Standard & Poor’s has downgraded United States sovereign debt overnight, from AAA to AA+. They are one of the big three agencies alongside Moody’s and Fitch, so it is a significant and unprecedented step. There are two obvious questions: Why has the US been downgraded and not Britain? And, what does it mean for us?

www.taxpayersalliance.com...

You simply just typed what the first paragraph of the source article is....

which is from Aug 6 of last year...

Important read, but dated to say the least...

The British Pound is still actually worth something.

The American dollar is made up, fiction. Reserve banking.

That's why.

~Tenth

reply to post by tothetenthpower


Britain is Reserve banking as well, regulated by the Bank of England. In fact.. they just monetized an additional 50 billion pounds into the economy through quantitative easing program. The Bank of England is modeled after the US Federal Reserve.

Who? Britain? Who are they?

I didnt even think anyone even paid any attention to Britain on the global-scene other than acknowledging it to be a place of constant surveillance around every corner, 24/7 drunkenness, and defenseless (unarmed) citizens being overrun and invaded by foreign religious extremists...

A people (Brits) who have allowed their freedoms to be taken away completely, and now being replaced by the invader's extremist laws and way-of-life.

How does a country allow THAT ONE to happen so easily? Being drunk and deluded 24/7 enough to allow your freedoms to be taken away and replaced by extremist laws and way-of-life is not good!!!!

The real reason is that the United States is not prepared to take the drastic measure of raising taxes. Taxes need to raised and the budget needs to be slashed, it's really quite simple. The gridlock in Washington and the Republican's reluctance to raise taxes are the main reasons the US was downgraded. We have to prove to the ratings agencies that we're serious about reducing debt and so far we haven't done that, shared sacrifice, we did it during World War 2, I don't know why it's so difficult now.

reply to post by youdidntseeme


You are correct , it is an old piece , with an explanation for members who are still not familiar with the downgrade structure of the world banks, and the search engine showed no previous posts. Just looking to inform , not get any flags

Originally posted by Rockpuck
reply to post by tothetenthpower

 

Britain is Reserve banking as well, regulated by the Bank of England. In fact.. they just monetized an additional 50 billion pounds into the economy through quantitative easing program. The Bank of England is modeled after the US Federal Reserve.

Think you may be incorrect with that statement!

The Bank of England (formally the Governor and Company of the Bank of England) is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world (the oldest being the Sveriges Riksbank (Bank of Sweden), established in 1668). It was established to act as the English Government's banker, and to this day it still acts as the banker for HM Government. The Bank was privately owned and operated from its foundation in 1694. It was subordinated to the Treasury after 1931 in making policy and was nationalised in 1946.[3][4]

Now unless something changed after December 23, 1913 when the FED was created it would seem that the FED is modelled on the BOE!!

I would say because the US will a) never pay their debt and b ) they will keep printing more to pay for social spending.