Another Day, Another Downgrade

November 29, 2012

Evidence continues to mount of trouble in the world economy and financial system.

The latest evidence comes in the form of yet another downgrade of a nation’s credit rating by a major international investment rating firm.

This is the type of trouble for which hard assets, such as rare gold coins, are ideally suited to protect personal wealth.

The latest trouble does not come from the USA and its impending “fiscal cliff.” Nor does it come from the European Union, whose members Greece and Spain are in deep fiscal trouble.

The latest trouble spot is Argentina. Argentina’s financial position is so poor that Fitch rating services has downgraded the country to a rating so low that default is expected soon.

The impact of this on world financial markets is yet to be seen, but in today’s interconnected world, we can be sure that it won’t be limited to Argentina…

http://www.telegraph.co.uk/finance/financialcrisis/9707546/Fitch-downgrades-Argentina-and-predicts-default.html

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