As The US Loses AAA, Where Is A Safe Harbour? -- BBC
The loss of America's AAA credit rating shouts loudly that there is risk in lending to America - which at a time of great stress in financial markets could be very destabilising.
Almost everything in the world - loans, goods, services - is priced in or priced off the dollar.
It is the measuring stick of the world financial system and the global economy.
The dollar has a status in the financial system once occupied by gold.
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My Comment: Overseas holders of US debt are now raising alarms, but this administration still prefers to attack the messenger (more news here).What is my prediction .... probably this, with more cuts in the U.S. rating in the future.
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