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“In Omaha the US is still triple A” – Warren Buffet

By on August 7, 2011

America’s most trusted investor, Warren Buffett roundly dismissed the S&P downgrade in comments to Fox Business.

“I don’t get it. In Omaha, the U.S. is still triple A. In fact, if there were a quadruple-A rating, I’d give the U.S. that.”

Berkshire’s exposure to treasuries is significant, but he says he doesn’t plan to sell. Buffett sounded no alarm bells about the downgrade, going so far as to say it wouldn’t have much effect on the markets Monday.

“If nothing else takes place, meaning, if all other variables hold and there isn’t say, a new problem in Europe, it won’t make any difference.”

“Think about it. The U.S., to my knowledge owes no money in currency other than the U.S. dollar, which it can print at will. Now if you’re talking about inflation, that’s a different question.”

Source via  BusinessInsider