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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (113183)	7/19/2010 2:31:25 PM
From: Hawkmoon	Read Replies (2) \| Respond to of 116555

a lot of chatter out of China academia to diversify holding and lower USD exposure further they established a debt rating agency which rated US debt on par with EU debt at AA Ratings Agency aren't of much value when they are being paid by people they are rating. Nor are they of much value when they derive from a financial system that remain opaque and equally given to creative accounting. Yes.. I know they hold a tremendous quantity of cash reserves, and some think that makes China "immune" from financial problems or bubbles, but it certainly doesn't qualify them to start passing credit ratings, IMO. It's just financial propaganda. Let them make some ratings claims on Chinese housing prices and mortgage loans. And sorry to butt in to your exchange with TJ. I seldom ever see someone refer to other's writing as scribble as an insult, let alone passing it along as a friendly gesture. Hawk