Dont you think its a strategic move by Banks/Government in order to create hype and stress?
They want to control the uncontrollable
What ratings are you talking about? The government are now trying hard to regulate the crypto but they cannot centralize the coin no matter what.
He is not talking about crypto but about (at least I think so) credit ratings agencies , like the (S&P), Fitch and Moody's.
it would be easy to give something a low grade then buy it up or something similar
Unfortunately history proves this tactic would have been totally wrong.
Most that were labeled as junk ended as junk.
They are indeed accused of manipulation but most of the time they are accused of overestimating payback capabilities for some countries and companies. And just being downgraded by a credit agency does not mean you can "buy" cheap. It mostly affects the rates at which that country/company can take loans and the price of their bonds in other cases.
