Someone's got a hole to fill, and hitting up short-dated Treasuries for much needed capital. Funny, something of a similar problem developed back in July 2011, the last time the euro-zone periphery was swindled. My guess is trouble originates somewhere in the French banking system. Why else would Fitch be out in front putting the U.S. credit rating on negative watch?
Then again, it's probably best this time around Fitch take the lead rather than S&P. Lord knows, bankrupt Venetians are hankering for a heist and their U.S. thugs at Standard & Poors took a lot of heat following their August 2011 downgrade of U.S. sovereign debt. Better wine swilling surrender monkeys lead the charge, if only for the sake of the symbolism. There's about to be a panic manufactured in a bid to gut the U.S. Treasury on the road venturing its outright destruction.
Picking up the ball for the beleaguered S&P were a couple of Team Fraud fleas. First was CNBC.com finance editor Jeff Cox claiming Washington was playing chicken with Wall Street, trying to "scare it into some sort of visceral reaction." Cox claims Wall Street is not willing to play Washington's game. Please, Jeff, you're insulting our intelligence. We know that, because you're deep in the bowels of fantasy land it is your job to pretend 2008 never happened.
Then came everyone's favorite blind bank analyst, Dick Bove. He says "the market is sending a signal to Congress: don't do anything; we don't care." Yeah, right. And the market isn't looking at the current partisan divisiveness pitting policies of Venetian lap dogs against Americans tired of being swindled, and projecting a very difficult Janet Yellen confirmation becoming increasingly likely? Alright, this might be some near tomorrow's greater concern, while for now there's a U.S. Treasury to be bankrupted gutting the last prop of a decimated physical economy. Market extortion demanding deep cuts coming up...
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