Champ it is significant what happened to the US but I am certain...

Champ it is significant what happened to the US but I am certain that QE3 will turn things around. Also next year is an election year in the US, I can't see the markets tanking then? We might tank more for now (until QE3 comes). All I am saying is there will be a point when things bounce and this US credit down-grade will not look as bad as it did. In saying that long term the US dollar is toast. They have their time lines to work towards, none of this is by chance. Anyhow the article below shows Britain had a credit rating down grade in 2009. Once they do QE3 the markets will rebound. They might have dropped the market now in anticipation of this? Silver will hit 70 bucks this year!!! The mania is starting.

I reckon Ben will mention the word "easing" 3 times tonight, hehehehe.

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http://www.dynamicexport.com.au/news/downgraded-uk-credit-rating-indicates-british-economy-in-trouble00181/

Downgraded UK credit rating indicates British economy in trouble

Rating agency Standard & Poor?s has lowered the United Kingdom?s credit outlook from ?stable? to ?negative? as UK borrowing hit record levels.

According to the agency, debt, uncertainty, ?deteriorating public finances? and an imminent election contributed to the downgrade, the first in negative territory since S&P ratings began in the 1980s.

?The rating could be lowered if we conclude that, following the election, the next government?s fiscal consolidation plans are unlikely to put the UK debt burden on a secure downward trajectory over the medium term,? said S&P credit analyst David Beers.

?Conversely, the outlook could be revised back to stable if comprehensive measures are implemented to place the public finances on a sustainable footing.?

The move sparked fears that the UK would lose its Triple A rating, which would see borrowing costs rise for the country. The pound and British shares fell in response to the new rating.

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