FLASH NEWS!!! THE MOST BULLISH THING TO HAPPEN YET FOR PRECIOUS METAL COLLECTORS AND INVESTORS!!!
U.S.'s AAA stripped
S&P yanks coveted rating for first time
"WASHINGTON (MarketWatch) — The United States late Friday lost its triple-A debt rating from Standard & Poor’s for the first time in history, with the credit-rating agency saying the political system of the world’s top economy has become less stable and that budget cutting announced earlier this week didn’t go far enough.
S&P lowered its rating on the U.S. by a notch to AA+ and, to compound the embarrassment, said the outlook is negative as well, as it threatened another reduction in two years. The rating agency said the deal reached by lawmakers to cut the federal deficit by an estimated $2.1 trillion over a decade didn’t go far enough, and “America’s governance and policymaking [is] becoming less stable, less effective, and less predictable than what we previously believed.”
Full Story Here: http://www.marketwatch.com/story/us-triple-a-debt-rating-cut-by-standard-poors-2011-08-05
Full Reason for S&P's Downgrade: