Global Society Gamblers
RATING AGENCIES
RATING AGENCIES, THE FEDERAL RESERVE, THE PARIS CLUB, THE IMF, brokers and speculator, all are part of the “CASINO FINANCE” the world is currently suffering from.
- RATING AGENCIES are private enterprises which in economic terms only purpose is to generate revenue and thus can hardly be considered as impartial.
- Key RATING AGENCIES are solely AMERICAN based firms, thus adding to conflict of interest when it comes to bias ratings.
- Rating Agencies have no legitimate cause other then service the interests of brokers and speculators.
- Spreading rumors on a countries default by rating agencies would probably not occur, if the rating agencies hadn’t spread the rumor in the first place.
RATING AGENCIES A CONFLICT OF INTERESTS
Since the stock exchange with its brokers and speculators became addicted to “Casino Finance” the entire economic system relied more and more on the influence of speculators and thus dubious organizations as well as private rating agencies emerged and gained Eco-Political influence.
Not only are rating agencies in most likelihood influenced by large enterprises, but they also are private enterprises, which in economic terms are there to generate profits, thus such agencies can hardly be considered as impartial when it comes to rate countries and economies, especial if one considers that all key player rating agencies are based in the USA.
Despite this conflict of interests, Rating Agencies gained influence thanks to the “Casino Finance” trend on the stock exchange. Thus we have American Rating Agencies conducting ratings and evaluations on economies and countries around the globe, based solely on American Eco – Political interests.
Based on their ratings, which by no means have proven to be accurate in many cases in recent past, a country can tumble into economic and financial turmoil only because a rating agency deemed it necessary to downgrade it.
Rumors on a countries default spread by rating agencies, who service the gamblers of the financial markets and who sometimes bet on company bankruptcy and economy defaults in various countries, would probably not occur, if they hadn’t spread the rumor in the first place.
Bias Rating Agencies have no legitimate cause other then service the interests of brokers and speculators. Since market speculation has become a key element in global economy it is time that Europe, Asia and Latin America counteract in creating their own rating agencies in order to create an equilibrium the predominantly American entity.
AS I SEE IT: Observing the current financial and economic crisis and the hype around the speculative financial market, one cannot dismiss the comparison to the MONOPOLY game, only in this case it’s a GLOBAL FINANCIAL MONOPOLY GAME with real people bearing the consequences.
See background information on Rating Agencies:
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Posted by: Tukiyooo
THE FINANCIAL "MONOPOLY" GAME Updated at :
6:33 PM
Wednesday, June 29, 2011
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