Israel in the soup over the American downgrade

Standard & Poor’s downgrades Israel’s U.S. loan guarantees.

Bank of Israel Governor Stanley Fischer has placed to much trust in Washington.

Standard & Poor’s said ratings for the loan guarantees Israel obtains from the United States dropped commensurately with its downgrading of the U.S. credit rating.

The USD 6 billion Israel receives in guarantees dropped from its highest rating of AAA to AA+.Unaffected was S&P’s overall rating for Israel, which remained at A/A-1, a level reporting a “strong” capacity to meet financial commitments.

Another major credit rater, Moody’s, had said before the debt ceiling matter was resolved that Israel might see its loan guarantees downgraded in the event that the United States was downgraded. Moody’s, however, did not downgrade its U.S. rating.

On Sunday, the Tel Aviv Stock Market experienced its largest one-day loss in nearly three years in reaction to the downgrade of the U.S. credit rating. The share market in Tel Aviv fell seven per cent.

Source: JTA

My comment:

A word from Uncle Sam is not a bona fide guaranty anymore.

Israel has placed all its egg in one basket. That is in the continued support from the ruling party in the US. The downgrade of the US credit rating, will effect Israel more than many other nations.

The US is the main export market for Israel. 32,5 per cent of products exported from Israel, are shipped to the US. If the US goes bust, so do the export driven economy of the Jewish state.

For Israeli’s, there have been many wake up call. Many Prophets have warned the Jews, not to put their trust in Washington, but to rather turn to the Messiah sent to all of us by God of Israel.

Israel will surely not be saved by men. Neither by money, nor by arms. Israel will be saved by the Spirit of God, purely by grace.  Amen.

Written by Ivar

3 thoughts on “Israel in the soup over the American downgrade

    1. Dear Sue.

      Shalom.

      It is exiting times. When everything turns into chaos, we will be the people who have peace in our hearts. When the final anti-Christ emerge, we will refused to bow before His authority, and not do as his children demands.

      The situation will not be very different from what happened to Christians during the centuries, all who refused to bow down to the power of the Pope. When He had the totalitarian powers, He let the head of Christians be cut off.

      We are an aroma to God of the Bible, the aroma of Jesus. To believers the smell of death (to our life in the flesh, and many will follow our example), and to the people who are about to perish, an aroma that brings life. If they want to listen to the gospel.

      2 Corinthians 2:15-17

      For we are to God the pleasing aroma of Christ among those who are being saved and those who are perishing. To the one we are an aroma that brings death; to the other, an aroma that brings life. And who is equal to such a task?

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