Russia and China have announced they are launching their own credit rating agency, to rival the Big Three Western credit rating system, including Moody’s, S&P and Fitch. Video interview.
The existing Anglo-American credit rating system was first created in the UK; then perfected in the US to accommodate the UK pound/US dollar global hegemony and to facilitate the petrodollar grip on the global economy.
The new agency will work with, not against, the BRICS economies. It will also work with the emerging economies of the world, taking into account local circumstances and special needs. In our changing world, where the power is gradually transitioning from the West to the East, the new agency will also assign its ratings to the overburdened by debt American, and other Western economies. And something is telling me the new agency isn’t going to give US a AA it doesn’t deserve.
This announcement comes on the heels of the S&P and other agencies announcing the upcoming downgrade of Russia’s debt to junk status. The downgrade is planned on the heels of the recent precipitous ruble drop as a result of the pre-meditated attack on the Russian ruble.
I have plenty of proof of this pre-meditated attack – something you won’t find in any Western MSM. The information will be revealed in the upcoming Earth Shift Report about the Ruble Wars.
The following two reports are being written as we speak; they’ll post as they get completed.
1. Grand Experiment Novorossia and the Birth of the New Revolutionary Monetary System.
2. Ruble Wars as the Beginning of the Death of the Dollar.
The reports will be posted on my new site LadaRay.info. Stay tuned!