The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: axial who wrote (28237)	4/28/2010 5:30:48 PM
From: axial	of 71447

Re:"Discredited ratings agencies will assist in this game, suddenly discovering "new" problems (visible for years) and lowering ratings. These lower ratings will be issued, of course, by US agencies. Players who are party to the process will realize immense derivative profits, just as in sub-prime." --- Rating rage Whatever love there was left in Brussels and Frankfurt for ratings agencies, it has almost evaporated. Standard & Poor’s may have had some good arguments. But its downgrading of Greece and Portugal - and now Spain - has not exactly helped calm financial markets as officials try frantically to put together a rescue package in Athens. For the European Central Bank, the downgrading of Greece to junk status has created particular complications. If other agencies followed S&P, Greek assets would become ineligible for use as collateral in ECB liquidity operations for which the minimum requirement is BBB-. blogs.ft.com Jim

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