Shouldn’t AAA credit ratings be reserved for creditors?

Shouldn’t a AAA credit rating, the best available credit rating for a borrower, be reserved for those borrowers that are 1) free of existing debt, 2) are not going into more debt right now, or if none of the above, 3) have the lowest certainty of defaulting?  Shouldn’t a AAA credit rating be reserved for those nations that are creditors and not debtors?

Having worked for a credit rating agency that focussed purely on sovereign ratings, I can tell you this game is just as rigged as the monetary system.  In fact, it is integral to sustaining the monetary system.  Maintaining the perception of the safety of government debt is what keeps the credit structure afloat.  All interest rates in the private sector pivot off Treasury and other benchmark bond yield curves.  They don’t need to, but in this fiat monetary system, they do.  Keeping this structure afloat is what keeps central banks in control of the money supply, and governments expanding influence over the economy.  When this control is lost, you get Zimbabwe 2004-2008.

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