Moody’s Downgrades Russia’s Debt to JUNK as BRICS Bank is Ratified

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by Stuart J. Hooper, 21st Century

Yesterday we reported on the huge news of Russia’s government ratifying the BRICS Development Bank and suggested that the West would seek to respond in some way. That response emerged just hours later.

Moody’s, the same ratings agency that failed to see the 07/08 crisis coming by rating toxic assets as AAA, has put Russia’s debt into the ‘Junk‘ zone. The agency cites an ‘expected’ continuing depression in Russia, suggesting a ‘decline in confidence’ in the country means growth will not be possible.

We would suggest Moody’s pay closer attention to this very website – 21st Century Wire – where we have complied a mass of coverage pointing to the contrary of Moody’s allegations.

Russia is anything but isolated and many countries have very high confidence in the nation. The Iranians recently signed a defence agreement with Russia, while the Chinese have been coordinating with the Russians to tackle the proposed American missile shield. China and Russia have also been expanding their already astronomical energy dealings.

The Egyptians, also, have incredibly high levels of confidence in Russia, allowing them to develop an entire nuclear industry throughout the developing nation. Yesterday’s announcement of the Russian ratification of the $100Billion BRICS Development Bank was the culmination of these mass of deals Russia has been involved with.

When anti-Austerity, anti-IMF and anti-Oligarchy party Syriza came to power in Greece, the entire country was painted as a hub for terrorism the very next day.

Belarus and France have also now begun to show similar tendencies as Syriza.

A highly questionable component of global finance.

Moody’s attempt to paint Russian debt as ‘Junk’ is yet another obvious propaganda stunt aimed at continuing the current demonization campaign against the country. Anybody who would trust the ratings of an agency that framed toxic assets as ‘AAA’ rated should have both their character, and intentions, questioned.

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