The 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
ihs.research@mail.ru
