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   Phileosopher :verified: (phileosopher@noagendasocial.com)'s status on Wednesday, 02-Aug-2023 23:30:10 JST Phileosopher :verified:

   https://www.reuters.com/markets/us/fitch-cuts-us-governments-aaa-credit-rating-by-one-notch-2023-08-01/

   ...which leads to an attempt to replace the US:

   https://fortune.com/2023/08/02/9-here-remaining-aaa-countries-after-fitch-stripped-us-of-top-ranking/

   Nobody thinks that'll happen, and that this is a political move, but it's still sneaky sneaky.

   I guess everyone's gonna get Bitcoin now?

   • Embed this notice
     victor (victor@crucible.world)'s status on Wednesday, 02-Aug-2023 23:30:09 JST victor

     in reply to
     @Phileosopher
     
     > surprised investors
     
     what kind of retard is surprised by this, I'm surprised it's not even lower
   • Embed this notice
     Phileosopher :verified: (phileosopher@noagendasocial.com)'s status on Thursday, 03-Aug-2023 00:10:25 JST Phileosopher :verified:

     in reply to

     • victor

     @victor

     The problem is that there's not really another government debt-based currency that's:

     1. running an economy large enough to support the world as a reserve currency (rules out most of the world)
     2. has a government that other countries feel safe with (rules out China)
     3. has current dominance in most of the world as a currency (rules out the EU, which is trying to edge into this).

     The problem is that, in spite of the weirdness, US dollars are still popular with the unwashed.

     BowserNoodle ☦️ likes this.
   • Embed this notice
     BowserNoodle ☦️ (bowsacnoodle@poa.st)'s status on Thursday, 03-Aug-2023 00:11:55 JST BowserNoodle ☦️

     in reply to

     • victor
     @Phileosopher @victor Correct and why this functionally means nothing but an insult. BRICS would be the closest replacement capability, but China and Russia and other countries aren't trusted globally. The EU could try and pull something off (lol, LMAO) but good luck because of Russia Ukrainian war economic damages + migrant pressures. We have global stagflation.