Silver as an investment

Category Archives: ratings

Moody’s Cuts Aussie Bank Ratings Due To “Tail Risk” Concerns

Back in 2007, the ratings agencies were so woefully behind the eight ball in understanding and reporting the credit risks in the U.S. financial system that it was nearly impossible to tell from day to day whether they were really just that incompetent or if they were complicit in the biggest financial fraud in history.  […]

Why Bankruptcy is Not a Magic Wand for Illinois

Via The Daily Bell What if everyone declared bankruptcy, would that solve all financial woes? Or rather, would it be the ultimate debt bubble burst? Bankruptcy is a “solution” that would become disastrous if everyone were to use it. So can it truly be considered a solution at all? It just shifts the financial burden to someone […]

“It’s A Perfect Storm”: List Of Retailers In Danger Of Bankruptcy Hits Record 22

The US retail sector continues to sink at an alarming rate, and according to the latest iteration of Moody‘s list of retailers who are in danger of filing for bankruptcy, there are now 22 distressed retailers whose troubled financials the rating agency believes could make them potential bankruptcy candidates in the near future, up substantially […]

South Africa Unexpectedly Plunges Into Recession

Despite expectations (among 19 'economists') that growth would be up 1.0% in Q1, South African GDP tumbled 0.7% (the second drop in a row) pushing the nation back into recession after eight years. The median of 19 economists’ estimates in a Bloomberg survey was for 1 percent expansion. There was only one forecast for a […]

Reuters Goes To China, Discovers “Ghost Collateral”

Back in 2014, a scandal erupted when media reports confirmed what many had previously speculated about China’s banking system: namely that much of China’s staggering loan issuance had been built (literally) upon air and that billions (or trillions) in loan collateral had been “rehypothecated” between two, three or many more debtors – or never even […]

Fitch Warns Biggest Threats To The Dollar’s Global Supremacy Are At Home

The US dollar will almost certainly remain the world's most important reserve currency for the foreseeable future but the lack of a ready substitute does not mean the dollar's current position is entirely assured, says Fitch Ratings in its latest Global Perspectives commentary. No other currency offers the same set of advantages to money managers, […]

Catalonia Threatens Spain With “Financial Bloodbath”

Authored by Don Quijones via WolfStreet.com,  Catalonia’s independence would set off Spain’s debt time-bomb. On Monday El Pais published leaked excerpts from what it claims to be the Catalonian regional government’s road map to independence. The secret document includes a plan for the region to unilaterally break away from Spain should its citizens be prevented […]

Sean Hannity Takes “Abrupt Vacation” Amid Advertiser Boycott

Is Fox News about to lose its last remaining “old school” anchor holdout?  According to Philly.com, Hannity is taking “a couple days off amid a growing advertiser boycott” over Hannity’s pursuit of the Seth Rich story – an parallel to Bill O’Reilly’s final days – and so far, seven advertisers are said to have pulled […]

Angry China Slams Moodys For Using “Inappropriate Methodology”

The market may have long since moved on from Moody’s downgrade of China to A1 from Aa3 (by now even long-only funds have learned that in a world with $18 trillion in excess liquidity, the opinion of Moodys is even more irrelevant), but for Beijing the vendetta is only just starting, and in response to […]

A Special Prosecutor Is Needed… For Criminal Leaks

Authored by Patrick Buchanan via Buchanan.org, Who is the real threat to the national security? Is it President Trump who shared with Foreign Minister Sergey Lavrov the intelligence that ISIS was developing laptop bombs to put aboard airliners?   Or is it The Washington Post that ferreted out and published this code-word intelligence, and splashed […]