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Weiss Ratings Initiates US Debt Just Above ‘Junk’
Greg Brown
Weiss Ratings, an arm of Jupiter, Fla., research firm Weiss Research, has initiated coverage of sovereign nation debt by ranking U.S. debt at “C,” a level it calls “two notches above junk” status.
Weiss Ratings puts U.S. debt at 33rd of 47 nations it rates, below China and other Asian exporters but above debt-plagued European nations such as Ireland, Greece and Portugal.
“If you own medium- or long-term government notes and bonds, dump them immediately,” said Martin Weiss, chairman of The Weiss Group, in a release.
“If you have your cash in short-term U.S. Treasury bills, be sure to surround them with investments that go up when the U.S. dollar falls,” he said. “And if you wish to profit from this crisis, consider adding still further to those contra-dollar investments.”
April 28, 2011