posted on Jul, 13 2011 @ 11:20 AM
The dirty economic warfare continues. It's like water boarding, everytime the EU can breathe a little, Moody's or any other US credit rating agency
comes in to put its head underwater again.
First the combined attack of the US lead attack by US Banks, hedge funds and credit rating agencies on Greece. As soon as things seemed to stabilize
Moody's came in to downgrade Portugal, now Ireland and next is Italy.
the movie Inside Job about how banks engineered this crisis showed a snippet of a senate hearing of these credit rating agencies. All of them claimed
that their ratings 'merely reflect opinions' as an excuse as for why they had given sub-prime mortgages triple A ratings. Meanwhile, they
significantly benefited by doing so and their profits have increased rapidly during the 2000s.
Knowing they have deceived investors before in order to fill their own pockets, it cannot be ruled out they abuse their power once again. This time,
they try to avert attention from the financial situation in the US. It would not surprise me if this operation is instigated by the Federal Reserve or
possibly even the White House. One thing is sure, these credit rating agencies hold biased opinions and use them politically. The fact that the US has
only been warned its credit rating will be downgraded, but no serious action has happened while their financial chaos is no better than that of PIIGS
countries confirms that.
Merkel has suggested before that the EU needs its own independent credit rating agencies and I agree. Meanwhile, China's credit rating agency Dagong
(which has not the influence to the extent US agencies have), are about to downgrade the US' status, rightfully.
It's interesting to see what's really going on behind the screens and I can't blame the US for doing so, they care more about the US than they do
about EU and in a crisis like this, everything seems permissible, but we're talking about the lives of many ordinary people being destroyed by those
greedy bastards that have brought this situation upon all of us.
(visit the link for the full news article)