Thursday, May 21, 2009
I said buy gold, not treasure
some of you may know what Moody's is, but its basically like equifax. You need to buy a car, the bank asks equifax what your credit score is. If a corporation wants to buy a company, the bank asks Moody's. Basically.
Now a goverment is a corporation, and England is about to get bitch slapped by Moody's. England is losing its AAA credit rating, and that will create a cascading effect, that Im not going to pretend to understand.
But it will affect the US.
Going to be interesting.