Moody’s dropped UK credit rating, while Scotland considers leaving

Moody’s credit rating agency downgraded the credit of the United Kingdom and this may cause some in favor of independence for Scotland to essentially cheer:

By TOM PETERKIN AND EMMA COWAN
Published on Sunday 24 February 2013 00:35

THE anti-independence campaign was dealt a severe setback this weekend as the UK government’s strategy for financial recovery was thrown into disarray.

Yes Scotland claimed that the No campaign had been dealt a “hammer blow” with the withdrawal of the UK’s much-vaunted AAA credit rating because of the economy’s continuing sluggish prospects for growth.

Alistair Darling’s Better Together campaign had put Britain’s AAA status at the heart of its efforts to prevent the break-up of Britain, arguing that the UK’s top rating saved Scots billions of pounds on the cost of their mortgages.

In the past, No campaigners have warned that an independent Scotland would not inherit a AAA rating, an outcome that would force up interest rates in Scottish banks, leading to bigger repayments for hundreds of thousands of families and small businesses.

Keeping the coveted rating has also been at the heart of the coalition government’s plans for recovery through austerity. Economists have warned that loss of the AAA status could see an increase in interest rates charged on government borrowing.

Last night the SNP’s Treasury spokesman Stewart Hosie said: “No campaigners used the UK’s AAA credit rating as one of their core arguments against independence. Now that has been shown up as misleading scaremongering…

What do the ratings mean?

Moody’s grades credit-worthiness on a scale of AAA, the highest, to C, the lowest. The numbers one to three modify the rating, with one being the highest.

When did UK get AAA rating?

March 1978. Moody’s is the first of the three main credit ratings agency to downgrade the UK.

What did Moody’s say about it?

It blames the UK’s “sluggish growth”. http://www.scotsman.com/news/snp-seizes-on-moody-s-uk-credit-downgrade-1-2807489

23 February 2013

The Scottish National Party is calling on the No campaign to pulp leaflets that they are distributing this weekend with misleading information following Moody‘s removal of the AAA credit rating from the UK.

The downgrade has blown an embarrassing hole in the No campaign’s assertion that the benefits of a triple-A rating were only secure through the UK. Leaflets being distributed today by No list this as one of their core arguments against independence.

The SNP pointed out that almost two-thirds of the countries that now hold triple-A status have populations of less than ten million – including Finland, Sweden, Denmark, and Norway. http://www.snp.org/media-centre/news/2013/feb/uks-loss-aaa-shows-failure-westminster

23 February 2013

Britain lost its top credit rating by Moody’s Investors Service, which cited weakness in the nation’s growth outlook and challenges to the government’s fiscal consolidation program.

The rating on the U.K. was lowered one level to Aa1 from Aaa and the outlook on the nation’s debt changed to stable from negative, Moody’s said in a statement yesterday. With the U.K.’s high and rising debt burden, deterioration in the government’s balance sheet is unlikely to be reversed before 2016, Moody’s said in the statement…

The U.K. economy shrank 0.3 percent in the fourth quarter of last year from the prior three- month period, leaving the country on the brink of an unprecedented triple-dip recession. The pound fell after the downgrade…http://www.bloomberg.com/news/2013-02-23/u-k-stripped-of-top-rating-by-moody-s-amid-weak-growth-outlook.html

The United Kingdom is not so united that Scotland could not possibly leave. There are many ramification associated with credit downgrades, beyond raising borrowing costs and risking hyperinflation. As far as Scotland goes, even if it gets independence, I expect that it will normally cooperate with England and the rest of the remaining UK. But I do believe that if it gains independence that this will not be good for the rest of the UK.

As far as debt goes, on a per capita basis, the UK is one of the most indebted nations in the world. On a total basis, the USA is the most indebted nation in human history. Other agencies have dropped the USA’s credit rating and Moody’s has suggested that it would do so.

For the past couple of centuries, the UK and/or the USA have essentially been the head of the old world order. The Bible shows that a curse to come would instead to become the tail:

43 “The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. 44 He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail.

45 “Moreover all these curses shall come upon you and pursue and overtake you, until you are destroyed, because you did not obey the voice of the Lord your God, to keep His commandments and His statutes which He commanded you. 46 And they shall be upon you for a sign and a wonder, and on your descendants forever. (Deuteronomy 28:43-46)

Some of this is starting to happen. Most in the world, including the world of the primarily Anglo-nations, do not realize what will happen if they are no longer on top. Real severe economic problems, such as lack of food, is coming to the Anglo-descended nations (cf. Matthew 24:7-8; Jeremiah 30:7).

National repentance is the only hope now for the USA, Canada, the UK, Australia, and New Zealand.

They are all in at least relative decline, despite the appearance of prosperity in their lands. And others are starting to truly notice.

Some articles of possibly related interest may include:

Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people?
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe?
Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
Just What Do You Mean Conversion? Many think that they are converted Christians. But are they? Would you like to know more about conversion. Herbert W. Armstrong wrote this as a booklet on this important subject.
False Conversion Have you really been converted? Herbert W. Armstrong wrote this article on this important subject.
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.
Prophecy Obama: Prophecies of Barack Obama? Reasons why Barack Obama is apocalyptic and reasons why Barack Obama is not the Antichrist. This article includes many biblical and non-biblical prophecies, from around the world, that seem to discuss Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? Might Barack Obama set the stage for the kings of the North and South as at least one Shiite prophecy suggests? Read it and decide for yourself if President Obama seems to be fulfilling various prophecies.