NEW YORK ( Bullion Bulls Canada) -- On Feb. 5, we learned something. We learned precisely how long of a memory span that the U.S. government believes Market Sheep to possess: 18 months.How do we know this? Because 18 months to the day after credit-rating agency Standard & Poors announced it had downgraded the U.S. government's (fraudulent) "AAA" credit rating, the U.S. government has announced its revenge .
We will vigorously defend S&P against these unwarranted claims . . . The fact is that S&P's ratings were based on the same subprime mortgage data available to the rest of the market -- including U.S. government officials who in 2007 publicly stated that problems in the subprime market appeared to be contained . . . "Let me expand on that statement, because truly S&P could have said much more. When the S&P spokesperson stated that "S&P's ratings were based on the same subprime data," she could have easily added that the ratings themselves were virtually identical to those of the other two ratings agencies; and their "analysis" of market conditions was so similar it was if all three were reading off the same script. So we have three trusted institutions all reading off of the same "don't worry, be happy" script, yet only one of the three is being attacked as a Villain. Who wrote the script for the ratings agency choir? Why, the U.S. government, of course -- now playing the role of the Aggrieved Victim.