Monday, April 18, 2011

The United States is less stable...

...in terms of credit rating than many countries now, such as the following:

Denmark AAA/Stable/A-1+ AAA/Stable/A-1+
Finland AAA/Stable/A-1+ AAA/Stable/A-1+
France AAA/Stable/A-1+ AAA/Stable/A-1+
Germany AAA/Stable/A-1+ AAA/Stable/A-1+
Liechtenstein AAA/Stable/A-1+ AAA/Stable/A-1+
Luxembourg AAA/Stable/A-1+ AAA/Stable/A-1+
Netherlands AAA/Stable/A-1+ AAA/Stable/A-1+
New Zealand AAA/Stable/A-1+ AA+/Stable/A-1+
Norway AAA/Stable/A-1+ AAA/Stable/A-1+

Yes, small Dutchies and Cantons in the middle of a historically unstable region of the world have better ratings than a country with 130 years of relative domestic peace and stability, to say nothing of the extremely dangerous position the entire European banking system is currently in due to the peripheral countries. Note that several of these are not SOVEREIGN CURRENCY ISSUERS, and therefore much more prone to funding crisis as they attempt to secure currency for payments. SOVEREIGN CURRENCY ISSUERS are under no such constraint.

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