Go Back   Old Project Avalon Forum (ARCHIVE) > Project Camelot Forum > Project Camelot > Archived Threads - Read Only

Notices

Archived Threads - Read Only For threads not posted in for 30 days

Reply
 
Thread Tools Display Modes
Old 09-16-2008, 02:51 AM   #1
QUESTINY
Avalon Senior Member
 
QUESTINY's Avatar
 
Join Date: Sep 2008
Location: Nebraska
Posts: 407
Default BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch, Financial Markets On The Edge
AIG Debt Rating Cut By Fitch, Financial Markets On The Edge

Monday, 15 September 2008 22:37:08 GMT


Written by John Kicklighter, Currency Strategist
Fitch rating agency has pushed AIG one step closer to the edge. One of the top three debt rating firms, Fitch lowered AIG's rating from AA- to A and left the insurer on watch for further reductions. While this was a modest step, it has been amplified by the AIG's demand for $40 billion in capital to bridge outstanding loans. Should the rating firms downgrade AIG, the resulting sell off in assets to meet credit reserves may out burn through even a massive liquidity injection like the one its asking for. Should the firm be allowed to fail, the consequences could be far worse than the reaction to the Lehman Bankruptcy and the dollar and carry trade will take the brunt of the pain in the currency market.

QUESTINY is offline   Reply With Quote
Old 09-16-2008, 03:08 AM   #2
Zarathustra
Avalon Senior Member
 
Join Date: Sep 2008
Location: Eastern U.S.
Posts: 429
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Q,

I agree, and it was hilarious to watch the mainstream business news "spinsters" try to convince their viewers this afternoon that the "worst was over".
Zarathustra is offline   Reply With Quote
Old 09-16-2008, 03:09 AM   #3
QUESTINY
Avalon Senior Member
 
QUESTINY's Avatar
 
Join Date: Sep 2008
Location: Nebraska
Posts: 407
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Quote:
Originally Posted by Zarathustra View Post
Q,

I agree, and it was hilarious to watch the mainstream business news "spinsters" try to convince their viewers this afternoon that the "worst was over".
I keep hearing, "are we at the bottom yet?" "this must be the bottom."
QUESTINY is offline   Reply With Quote
Old 09-16-2008, 03:13 AM   #4
leviathan
Guest
 
Posts: n/a
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

The PIT is bottomless.
L E V I A T H A N
  Reply With Quote
Old 09-16-2008, 03:14 AM   #5
Dantheman62
Avalon Senior Member
 
Join Date: Sep 2008
Location: So. Cal. U.S.
Posts: 4,205
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Hey Q, thanks for the message and whats next? Citigroup? I'm glad I sold everything when the market was 13,500, I wish I would've kept my gold panda coins tho!

Last edited by Dantheman62; 09-16-2008 at 03:20 AM.
Dantheman62 is offline   Reply With Quote
Old 09-16-2008, 03:15 AM   #6
Mizar
Avalon Senior Member
 
Mizar's Avatar
 
Join Date: Sep 2008
Location: British Columbia
Posts: 162
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Questiny;
Thanks for the post
Aig will be toast tomorrow, another domino falling, Wachovia will be on teh deathwatch next.
M (aka Pirate eye)
Mizar is offline   Reply With Quote
Old 09-16-2008, 03:25 AM   #7
clarkkent
Avalon Senior Member
 
Join Date: Sep 2008
Posts: 319
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

i just bought 200 dollars more in silver today for a total of 1000, almost everyplace in NY is sold out or selling at double the spot price...its coming, keep a level head.
clarkkent is offline   Reply With Quote
Old 09-16-2008, 03:28 AM   #8
Zarathustra
Avalon Senior Member
 
Join Date: Sep 2008
Location: Eastern U.S.
Posts: 429
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

[QUOTE=QUESTINY;14040]I keep hearing, "are we at the bottom yet?" "this must be the bottom."[/QUOTE

good observation,

I'm confused by FOX, CNN, et alia. According to them, nearly everyday for the last year has been a bottom. HMM.
Zarathustra is offline   Reply With Quote
Old 09-16-2008, 03:29 AM   #9
QUESTINY
Avalon Senior Member
 
QUESTINY's Avatar
 
Join Date: Sep 2008
Location: Nebraska
Posts: 407
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Quote:
Originally Posted by clarkkent View Post
i just bought 200 dollars more in silver today for a total of 1000, almost everyplace in NY is sold out or selling at double the spot price...its coming, keep a level head.
The spot price only reflects the ETF side of Gold and Silver. Physical Gold and Silver has a totally different value.
QUESTINY is offline   Reply With Quote
Old 09-16-2008, 03:57 AM   #10
clarkkent
Avalon Senior Member
 
Join Date: Sep 2008
Posts: 319
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

well shops usually sell individual one ounce coins at a couple bucks above spot price, so when spot was $16 i bought it for $18 when it dropped to $11 bucks i bought some for $15 per , it depends on the dealer.
clarkkent is offline   Reply With Quote
Old 09-16-2008, 04:47 AM   #11
JSErwine
Avalon Senior Member
 
Join Date: Sep 2008
Location: Iowa
Posts: 73
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

I'm no finance expert, but this seams like a snowball thats just starting to roll down hill. The consumer has not even fealt the ripple effect yet, am I wrong?

I know if this AIG thing go's completely sour, it will effect the industry I work in greatly.
JSErwine is offline   Reply With Quote
Old 09-16-2008, 06:29 AM   #12
Anchor
Avalon Senior Member
 
Join Date: Sep 2008
Location: Sydney, NSW, Australia
Posts: 2,280
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Quote:
Originally Posted by clarkkent View Post
i just bought 200 dollars more in silver today for a total of 1000, almost everyplace in NY is sold out or selling at double the spot price...its coming, keep a level head.
Be really careful if you are not walking out the shop with the silver.

I bought some bars 4 weeks ago at AUD 578 per Kg and it still hasnt been delivered.

Gold is plentiful here, silver - very low physical stocks.

A..

Last edited by Anchor; 09-19-2008 at 10:46 AM. Reason: I got the amount wrong (no one noticed :-) )
Anchor is offline   Reply With Quote
Old 09-16-2008, 07:20 PM   #13
QUESTINY
Avalon Senior Member
 
QUESTINY's Avatar
 
Join Date: Sep 2008
Location: Nebraska
Posts: 407
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Quote:
Originally Posted by Anchor View Post
Be really careful if you are not walking out the shop with the silver.

I bought some bars 4 weeks ago at AUD 950 per Kg and it still hasnt been delivered.

Gold is plentiful here, silver - very low physical stocks.

A..
You need to call the shop and ask for an ETA on the Silver.
QUESTINY is offline   Reply With Quote
Old 09-16-2008, 07:24 PM   #14
QUESTINY
Avalon Senior Member
 
QUESTINY's Avatar
 
Join Date: Sep 2008
Location: Nebraska
Posts: 407
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Quote:
Originally Posted by JSErwine View Post
I'm no finance expert, but this seams like a snowball thats just starting to roll down hill. The consumer has not even fealt the ripple effect yet, am I wrong?

I know if this AIG thing go's completely sour, it will effect the industry I work in greatly.
It is important that AIG stay solvent because they are one of the very very few who will insure large company transactions for international trade. We may see the shipping industry hit hard if AIG goes under. Also Consumer goods sent from China and elsewhere. These transactions are insured through AIG for guaranteed deliveries. This company handles all the big businesses. We may not get our TV's next year or our Toyota's?
QUESTINY is offline   Reply With Quote
Old 09-16-2008, 07:26 PM   #15
Zarathustra
Avalon Senior Member
 
Join Date: Sep 2008
Location: Eastern U.S.
Posts: 429
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Quote:
Originally Posted by QUESTINY View Post
It is important that AIG stay solvent because they are one of the very very few who will insure large company transactions for international trade. We may see the shipping industry hit hard if AIG goes under. Also Consumer goods sent from China and elsewhere. These transactions are insured through AIG for guaranteed deliveries. This company handles all the big businesses. We may not get our TV's next year or our Toyota's?

If I'm not mistaken AIG purchased the port that Dubai was going to purchase before that deal was made public and rejected. Any knowledge of that?
Zarathustra is offline   Reply With Quote
Old 09-16-2008, 07:28 PM   #16
QUESTINY
Avalon Senior Member
 
QUESTINY's Avatar
 
Join Date: Sep 2008
Location: Nebraska
Posts: 407
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Quote:
Originally Posted by Zarathustra View Post
If I'm not mistaken AIG purchased the port that Dubai was going to purchase before that deal was made public and rejected. Any knowledge of that?
There was more than one port. There were at least 6 and as many as 8. They were still purchased by Dubai from a Shell company out of London. If AIG goes under then this information my be revealed accidentally and then things will really get ugly with the American people.
QUESTINY is offline   Reply With Quote
Old 09-16-2008, 07:35 PM   #17
Zarathustra
Avalon Senior Member
 
Join Date: Sep 2008
Location: Eastern U.S.
Posts: 429
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Quote:
Originally Posted by QUESTINY View Post
There was more than one port. There were at least 6 and as many as 8. They were still purchased by Dubai from a Shell company out of London. If AIG goes under then this information my be revealed accidentally and then things will really get ugly with the American people.

Thanks,

I knew there was a connection there. Do you see an immediate Federal takeover to try and keep that under wraps if AIG takes a dirt nap?
Zarathustra is offline   Reply With Quote
Old 09-16-2008, 07:44 PM   #18
QUESTINY
Avalon Senior Member
 
QUESTINY's Avatar
 
Join Date: Sep 2008
Location: Nebraska
Posts: 407
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Yes, that and many others. But it won't work because the debacle is bigger than the dirty secrets. Lets hope nothing happens to JP Morgan Chase.
QUESTINY is offline   Reply With Quote
Old 09-16-2008, 08:06 PM   #19
Zarathustra
Avalon Senior Member
 
Join Date: Sep 2008
Location: Eastern U.S.
Posts: 429
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

Quote:
Originally Posted by QUESTINY View Post
Yes, that and many others. But it won't work because the debacle is bigger than the dirty secrets. Lets hope nothing happens to JP Morgan Chase.

I agree that it won't stay hidden, investors are losing billions, not to mention the Americans footing the bill, people are going to "out for blood".
Zarathustra is offline   Reply With Quote
Old 09-16-2008, 08:09 PM   #20
John aka#404
Avalon Senior Member
 
Join Date: Sep 2008
Location: Alberta, Canada
Posts: 339
Default Re: BOOM!!! BREAKING: AIG Debt Rating Cut By Fitch

[Mod Hat off]

I love reading these dialogs folks. Keep it up... very informative.

(insert the above to the other current ones going on)

-John aka#404

Last edited by John aka#404; 09-16-2008 at 08:24 PM.
John aka#404 is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 08:17 AM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Project Avalon