The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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From: maceng2	1/21/2010 8:23:41 AM
	1 Recommendation Read Replies (2) of 71475

(UK) Steven Major, HSBC's global strategist on sovereign debt, believes the rating agencies and the markets are systematically under-valuing Britain's debt. "The chances of Britain defaulting are zero. Yet the only thing a rating measures is that chance. There will not be a downgrade," he says. He believes the methodologies of the agencies are open to question. Above all with Britain, he believes, a "true sovereign" country can tax, print money or devalue its currency to avoid default. bbc.co.uk I had a enhanced feeling of impending doom as I watched this guy on TV. Maybe the soaring stock markets can save the UK pound? I'm not betting on it.

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