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07:22 PM
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Ron Paul: "America's AAA Rating Not Worth Saving" Because "We Are Insolvent"
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[quote:maggie 1272219:MV8xNTYxNDA1XzI1Nzk2NjY3X0UxQzFBRDY=] [quote:Anonymous Coward 1360748] the script is already written for if he is meant to win or not. elections are a total sham. i would hope GLP of all places realizes this... [/quote] Sadly true about the script. Wish there was something to be done about that situation. If it continues, we are surely lost. But circumstances tie our hands as we cannot vote on honest elections because they are not honest to begin with. A vicious circle. But we can dream: Ron Paul in 2012. [/quote]
Original Message
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.
Full Bloomberg TV: [
link to www.domasjefferson.com
]
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