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The old saw states, “if you can’t beat ‘em, join ‘em”.  This is how civilized people act, accepting they can’t always “win,” – particularly when squarely in the wrong.  Then again, children handle things differently…

It´s My Party – Problem Child Video

Since Global Meltdown I commenced in late 2008, TPTB have gone on an ALL-OUT BLITZ to delay the inevitable, employing every possible manner of MONEY PRINTING, MARKET MANIPULATION, and PROPAGANDA (including data and accounting chicanery) to “kick the can down the road.”  And when I say “kick the can down the road,” I’m referring to attempts to prepare themselves for the END GAME, by robbing the public to ensure their own well-being following the coming FINANCIAL ARMAGEDDON.

From early 2009 through mid-2011 – notwithstanding the “first Greek Crisis” in Spring 2010 – “they” patted themselves on the back, having apparently fooled the world into believing the most massive MONEY PRINTING operation ever had “fixed” what was wrong.  However, when Global Meltdown II commenced last Summer, TPTB’s “leverage” turned against it – in spades.  This time around, not only banks were failing, but the sovereign nations that lent the banks TRILLIONS of dollars, Euros, and Pounds.  Stock markets once again plunged – led by financial stocks – forcing even the most “connected” rating agencies to DOWNGRADE their most valued “clients”…

S&P downgrades U.S. credit rating for first time

When Standard & Poor’s stripped the U.S. of its AAA rating last August, it was truly a “shot heard round the world.”  Not the credit downgrade – as anyone with an eighth of a brain realizes the U.S. can NEVER pay back its debts – but the fact that S&P challenged the authority of the government.  Not surprisingly, two weeks later, its President “resigned”…

Deven Sharma to resign as president of S&P

…and since then, S&P has said NOTHING about the U.S. credit rating, despite the government having FAILED to fulfill ANY of the cost-cutting parameters it warned of last August…

We could lower the long-term rating within the next two years if we see less reduction in spending than agreed to or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.

Two months ago, the lesser known Egan-Jones rating agency downgraded the U.S. for a second time, from AA+ to AA.  Egan-Jones is considered the ‘fourth rating agency’- after S&P, Moody’s, and Fitch – but is clearly the least biased by “client fees.”  No business has greater conflicts of interest than securities rating – as those being rated typically pay the agency for the privilege.  However, some rating agencies (hint: the “Big Three” noted above) are more “buyable” than others…

Egan-Jones Downgrades USA From AA+ To AA, Outlook Negative

And what do you know, just two weeks later, the U.S. government SUED Egan-Jones, once again “crying at its party.”

SEC Emerges From Carbonite Deep Freeze, Sues Egan-Jones

Rating agency goals may be conflicted, but after losing nearly ALL credibility during Global Meltdown I – by issuing AAA ratings to clients such as Lehman Brothers, Bear Stearns, and AIG –they clearly shifted their business models in an effort to regain credibility.  Moreover, given the experience of S&P and Egan-Jones when they downgraded the U.S. government, REST ASSURED anything negative written of sovereign nations is GENUINE!

Moody’s warns it may downgrade UK rating

Since last summer’s commencement of Global Meltdown II, ratings agencies have diligently downgraded EVERYTHING IN SIGHT – except the U.S. government, of course – in a perpetual state of “Negative Outlook” on dozens of sovereign nations and thousands of banks.  France, Italy, Spain, and a host of TBTF banks have come into their crosshairs, many with highly detrimental ramifications…

Spain borrowing rates soar after Moody’s downgrade

Thus, the article below shouldn’t surprise anyone, describing “THE ULTIMATE ACT OF COWARDICE…AND DESPERATION” – a “boycott” of rating agencies by their corporate clients.  It’s one thing for governments to strong-arm rating agencies – especially the U.S., given its ability to PRINT MONEY at will.  However, for corporations requiring investor capital, shunning ratings agencies – especially in today’s environment of FINANCIAL COLLAPSE – is pure business suicide, yet another example of how the “brilliant” Wall Street and London bankers are no smarter than the millions of layman they denigrate and patronize.

European Banks Preparing To Boycott Big Three Rating Agencies

In my mind, this decision represents another act of blatant corporate hubris, destined to be looked back on history as a major symptom of the coming END GAME…


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