book re the S and P downgrade of the US

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Posted by JimHK on August 06, 2011 at 14:55:20:

I don't think the public has as yet realized how significant the S&P downgrade of the US is. The US dollar has long been the stable currency that most of the countries of the world hold (by buying US bonds). That goes a long way toward keeping the US economy rolling because it means the US can print as much money as it needs.


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