China: U.S. has already defaulted on its debt.

LOS ANGELES, CA (Catholic Online) – “In our opinion, the United States has already been defaulting,” Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd. says. The company is the only Chinese agency that gives sovereign ratings, and was quoted by the Global Times saying.

According to Guan, Washington has already largely defaulted on its loans by allowing the dollar to weaken against other currencies, eroding the wealth of creditors including China.

Link

Editor’s note: Also seriously eroding the wealth of ordinary U.S. citizens who happen to still have some cash in the bank.

Leave a comment

No comments yet.

Comments RSS

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s