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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 387.98

+1.3%

Nov 28 4:00 PM EST

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From: Haim R. Branisteanu	11/25/2011 1:26:13 PM
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Downgrade do-jour SAN FRANCISCO (MarketWatch) -- Standard & Poor's said Friday it downgraded the long-term sovereign credit rating of Belgium to AA from AA+ because of renewed funding and market risk pressure. The outlook is negative. "We think the Belgian government's capacity to prevent an increase in general government debt, which we consider to be already at high levels, is being constrained by rapid private sector deleveraging both in Belgium and among many of Belgium's key trading partners," S&P said in a note. S&P also cited the sale of Dexia SA's /quotes/zigman/285541 BE:DEXB +7.85% /quotes/zigman/285549 FR:DEXB +7.85% Belgian bank unit to the government as offsetting economic growth. When they will be done downgrading EU countries then they will start with the US. ... and then what? S&P is an US company and with all their downgrades of the EU countries they do not realize that in actuality they are damaging US competiveness and ability to generate new jobs by devaluing the EUR v the USD. The EU is getting more competitive v the US GS and JPM are happy as they are selling CDS by the truck load but those contracts will come back to haunt them and the US taxpayer will end up holding the bag in this scheme. According to Bloomberg there is a $5 trillion exposure by those two banks only – who will make whole the CDS they wrote? The US Treasury or the FED?

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