Friday, April 5, 2013

Nouriel Roubini is Wrong on Philippines’ Credit Outlook (Danger Ahead) credit outlook in the Philippines’ should be downgraded, not upgraded like we recently saw out of S&P.  But when aren't the ratings agencies wrong?  When aren't they talking the books of the hedge funds and banks?  They’re giving investment grade to the same toxic structured products being issued today as the ones in 2006.  The model of an issuer paying for ratings is ludicrous.  More ludicrous however, is how Moody’s, S and P, and Fitch are repeatedly used at the disposal of the billionaires club in their market operations and its totally unnoticed.

How HSBC moved 10 billion for the Mexican drug cartel is the same way they did it when it was time to transfer to the wealth of Iceland to that of the Club.  Icelandic, the Russia 1998 crash, and Asian panic in 1997 were all the same song.  Its to late for China, they’re toast.

Philippines’ national wealth is being distributed and siphoned out the country on a large scale.  Like the rest of the commentary following previous national economic implosions, few will know what really happened because they don’t understand how capital really moves.

I’ll gladly put together a report covering why Nouriel Roubini is Philippines, for those interested in paying me for the time.  I'll show you how the smart money is already shorting the Philippines as well as the concerns I'd stay far away from (or short).

Email me.

Donny Shekels