Egan-Jones Downgrades US Credit rating over weekend

Egan-Jones Downgrades US Credit rating over weekend
by Tyler Durden

History has proven that defaults on domestic public debt do occur. In fact, seventy out of three hundred twenty defaults since 1800 have been on domestic public debt (1). Egan-Jones does not view a country's ability to print its own currency as a guarantee against default. Additionally, Egan-Jones generally views cases of excessive currency devaluation as a de facto default.

http://www.zerohedge.com/article/egan-jones-downgrades-us-aaa-aa