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17 sats \ 2 replies \ @Undisciplined 17 May \ on: Moody's cuts America's pristine AAA credit rating, citing rising debt econ
What I recall from previous downgrades, is that they're kind of a nothingburger. People worry about large funds, that are only allowed to hold AAA rated bonds, dumping Treasuries, but I think they just change their portfolio rules.
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38 sats \ 0 replies \ @Coinsreporter OP 17 May
I think you're right. I actually only have experienced these downgrades for India or Indian entities which almost always resulted in a panic.
I think they just change their portfolio rules.
This means nobody cares about ratings in the US anymore.
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0 sats \ 0 replies \ @Solomonsatoshi 17h
mBridge is something US exceptionalists dont want to know about and thus do not understand. Trade dominance naturally evolves into monetary dominance.
China has won the trade war. USA is fucked without Chinese supply chains.
The Saudis have joined mBridge. The petrodollar is facing imminent collapse.
~$7T USTs must be rolled over by Christmas. Moodys giving AAAs to CDO junk bonds precipitated the GFC.
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