World Is Witnessing Financial WWIII
August 12th, 2011Via: Russia Today:
Following the loss of the US’s triple-A credit score which sparked sell-offs on global markets, a new war using financial derivatives has been waged, which by no means can bear the name of WWIII, financial analyst Max Keiser told RT.
Investors however remain unconvinced the country’s finances are solid enough. Problems in the Eurozone will be up for discussion by the French and German leaders next week.
Max Keiser, financial analyst and host of the Keiser Report on RT, said French banks are now loaded with toxic derivatives that were sold to them by US investment banks.
“The US investment banks and the rating agencies are now attacking these French banks. They know where the bodies are buried, and they are using the weapons they sold them to attack them,” he said. “The rating will be downgraded again. This is part of a new era on Wall Street – they go after sovereign debt. Wall Street and rating agencies are working together to destabilize the sovereign debt of these countries,” he added.
Research Credit: windhorse
