Paul:"AAA Not Worth Saving, Were Insolvent Now"

5 posts / 0 new
Last post
¤
¤'s picture
Offline
Joined: 06/14/2011
Hat Tips: 92321
Posts: 18245
Paul:"AAA Not Worth Saving, Were Insolvent Now"

Ron Paul: "America's AAA Rating Not Worth Saving" Because "We Are Insolvent"

 
Tyler Durden's picture

The man who yesterday got into a heated argument with the chairsatan on whether gold is or isn't money (a Bernanke response already mocked to death so we will leave it alone), shares his take on the most recent bout of scaremongering by Moody's (with S&P doing in private today what Moody's did in public yesterday) with Bloomberg TV's Erik Schatzker. When asked if the American AAA rating is worth saving, his reply: "probably not. I think if you had a market evaluation on this issue, it should have marked down a long time ago." The reason the downgrade will come regardless is that "ultimately that is going to happen anyway because we are insolvent." The big picture: "I think it is part of the game to make sure everyone is fearful so we continue this process. Long term, I think raising the debt limit is a negative because it delays the inevitable. It will give us much bigger problems down the road. Today and tomorrow, if Moody's does not lower the bond rating, it will be helpful in the short run. In the long run, it will be more devastating because Congress will go back to their old habits again." Said otherwise: Moody's is concerned about US debt now, but is not concerned if US were more tomorrow - sheer idiocy.

Edited by admin on 11/08/2014 - 06:05

__________________

An epic lack of foresight, accuracy and humility over 3 1/2 years ago. Once a pumper, always a pumper!
http://www.tfmetalsreport.com/comment/170246#comment-170246

Kegfreak
Kegfreak's picture
Offline
Joined: 06/14/2011
Hat Tips: 135
Posts: 23
Ratings companys are B.S anyway!

These are the same ratings companies  that told everyone that MBS's and the credit default swaps were AAA investments in 2006 before the crash!  The ratings they gave and continue to give are BS and can be bought by banks or governments to provide the sheep with a sense of security while investing in garbage!  Our rating should be a lot lower than it is, and the fact that it is not, confirms the complicity in the fraud by all ratings agencies.  This is a fear mongering announcement to get the debt ceiling raised and defraud us one more time.

Thank you Ron Paul for bringing this to light!

Dr Durden
Dr Durden's picture
Offline
Joined: 06/14/2011
Hat Tips: 5371
Posts: 730
With all due respect to Dr

With all due respect to Dr Paul, he did not bring this to light. Many have been screaming this for years. At the end of the day, there's no money to be made truth, fairness, equality, etc. Play your cards right and you'll make a fortune off the buckling of the greatest nation on Earth.

__________________

Got GIABO?

"It's called the American dream, because you have to be asleep to believe it." ~George Carlin

Kegfreak
Kegfreak's picture
Offline
Joined: 06/14/2011
Hat Tips: 135
Posts: 23
To many this is the most coverage this will get.

This provides a good sound bite for the news.  Most people do not have a clue about the complicity that the ratings companies had with their BS ratings.  I understand that Dr. Paul is not the first, but he is a public figure running for President and it should get coverage.

TheGoodDoctor
TheGoodDoctor's picture
Offline
Joined: 06/14/2011
Hat Tips: 11941
Posts: 1286
@DPH Still more news from

@DPH Still more news from Bizarro World. At least Ron Paul throws us truths when the ratings companies play games. "Just the facts ma'am!"

__________________

“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” Norm Franz

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Topic locked
Syndicate contentComments for "Paul:"AAA Not Worth Saving, Were Insolvent Now""