S&P Downgrades US Outlook

This video on the looming downgrading of the U.S. and the consequences that it would have shows the economy is not in any recovery.  The one very interesting word they mention is Bretton Woods, the town after which the post war economic system was named.  That system was, over the years, taken apart beginning most emphatically with Nixon taking the dollar off the gold reserve system.  Since then, the US, and the world as well, have been forced into the system of Wall Street and the international financiers, the very people from whom the Bretton Woods system was designed to protect us.
The international monetary fund and World Bank have wrapped up their spring meetings where they discussed the concern over a growing global financial crisis. But critics are saying that it’s those original IMF policies that helped create this monstrous meltdown. RT’s Lauren Lyster has the details.

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The downgrading is really a statement, by the S&P, that the anti-Bretton Woods, Wall St. monetary system is not worth the paper it’s based on.

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