Dear PGM Capital Blog readers,
On Friday evening August 5th 2011, Standard & Poor downgraded the USA credit rating from AAA to AA+.

On Sunday August 7th 2011, during “MSNBC” program. “Meet the press”, former USA Fed Chairman, Dr. Alan Greenspan, was asked on his opinion about the downgrade of the USA debt.

MSNBC Reporter:

Are USA treasury bonds still safe to invest in?

Dr. Alan Greenspan:

Very much so, this is not an issue of credit rating, the United States can pay any debt it has, because we can always print money to do that. So there is zero probability of default.

We want to thank former FED Chairman Dr Alan Greenspan, for his wisdom and for telling us that the USA can never default because it can always print money to pay its debts.

Gold, “Real Money” which cannot be printed by any government or Centralbank, understood Mr, Greenspan also very well and appreciated with approx. USD 150.00 an oz or 9,1% from its close of Friday August 5th 2011 to close at a new record high of USD 1,795.40 an oz today.

Ladies and gentlemen, we are living now in exceptional times, we’ll be witnessing the fall of the so mighty West (USA, EU and Japan). Slowly but surely more credit rating agencies will follow the example of “Standard & Poor’s” and will downgrade the USA. In our opinion Great Britain and France will also be downgraded soon from their current AAA rating.

We believe that currently; Switzerland, Luxembourg, Singapore, Norway, Holland, Denmark, Canada & Australia still have a solid and safe AAA credit rating.

For the sake of humanity we hope that we’ll be wrong on our above mentioned predictions.

Last but not least, please consider your risk tolerance and investment horizon before investing and keep in mind that the prices of Gold, Silver and other precious metals, as well as the stock of their producers can be very volatile and that sharp corrections might happen in the short time.

Yours sincerely,

Eric Panneflek

2 thoughts on “Dr. Alan Greenspan: THE USA CAN NEVER DEFAULT

  • Is the Dollar becoming the next Bolivar????
    Is Greenspan becoming schizophrenic….or did Alzheimer finally set in????
    What gives him the right to think that the USA is “untouchable”.
    Like I said before, welcome to the era of “The Great American Nightmare”

  • Being downgraded from their AAA position is a great embarrassment to the USA.
    Such an ARROGANT behavior might be their only way out to make others think that they are still in charge!

Leave a Reply

Your email address will not be published. Required fields are marked *