Unfortunately for the misguided vultures of the West, it is somewhat irrelevant. The Federal Reserve controlled credit rating agencies can not lower their ratings because they are disallowed from doing business with Russia.
But by God the drama and headlines on the Bubblevisions will all sound the same, like this one from Canada’s Financial Post:
“It’s a very, very rare thing, where a government that otherwise has the means is forced by an external government into default,” said Hassan Malik, senior sovereign analyst at Loomis Sayles & Company LP. “It’s going to be one of the big watershed defaults in history.”
A formal declaration would usually come from ratings firms, but European sanctions led to them withdrawing ratings on Russian entities. According to the documents for the notes whose grace period expired Sunday, holders can call one themselves if owners of 25% of the outstanding bonds agree that an “Event of Default” has occurred.
So if the West refuses to allow payments in dollars, Euros, or whatever that bird crap Canuckistan uses thus putting Russia into default, what happens when the new BRICS+ reserve currency becomes active in 2023 and the bondholders demand payment in that currency? Worse yet, what if Russia tells them to dial 1-800-JAY-BUCK and pushes it on to the central banksters of the West?
Russia is winning and the insanity we are witnessing in the geopolitical, military, and economic spheres should terrify the residents of the European Union and North American bloc.
Because playing video games and manufacturing Soylent Green will keep the sheeple in line as the Roman Empire of this era implodes.