Topic: Standard And Poor S

Standard & Poor's downgraded the European Union's credit rating from AAA to AA+. Simultaneously, the CFTC admitted to a "glitch" that resulted in the underreporting of the swaps market by $55 trillion. These events, combined with falling gold prices and a volatile stock market, suggest a significant financial "reset" may occur in the near future.

Belgium sets a Guinness World Record for the longest period without a functioning government. The International Monetary Fund (IMF) warns that the 10-month stalemate threatens the economy, as the country faces a sovereign debt ratio of 94% of its GDP and potential downgrades from ratings agencies.