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標題: The US nationalises AIG [打印本頁]

作者: hardcat 時間: 2008-9-17 13:04 標題: The US nationalises AIG

The US is now a bigger communist than China, doing insurance business, apart from housing mortgage business...
Here's an excerpt of an online article (for american, but just as relevant to us):
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Just today, the Fed scraped together a desperate, last-minute agreement to provide a jaw-dropping $85 billion in funding to save AIG (the insurance firm). Why did they do this? Because if they hadn't stepped in to save AIG, the entire global financial system would have collapsed within days. That's no exaggeration. The Fed was the funder of last resort, and it has just barely averted a global financial disaster so large, nothing in the history of human civilization even compares. This is what happens when $445 trillion in leveraged financial instruments start to unravel...

But the rescue was done by creating money from nothing and injecting it into the system. That $85 billion, it turns out, dilutes the existing money supply, making your dollars increasingly worthless, and in the months ahead, everything you buy is going to get more expensive: Food, supplements, gasoline, rent, health care services and much more.

The Fed, in essence, is stealing billions of dollars from the American people and using it to bail out rich bankers and powerful CEOs of huge financial institutions. That $85 billion is on top of another $70 billion the Fed created just two days ago. It totals $155 billion, or over $500 for every man, woman and child in America. Think about it: The Fed just reached into your pocket and stole $500 worth of purchasing power from you, and if you have a family of four, they just stole $2,000 from you.

And yet that's only how much they stole in the last two days! Add in all the money creation cash injections in just the last few months, and you get a HUGE number... $200 billion in March, $30 billion to bail our Bear Stearns, $70 billion to prevent a stock market plunge... the numbers just keep mounting. The Federal Reserve is literally printing its way to YOUR bankruptcy. To prevent the failure of wealthy financial institutions, it has decided to decimate the life savings of the American people.

It's no surprise, of course: Every nation throughout history has done the same. When push comes to shove, governments always sacrifice their people to save their wealthy elite, and the U.S. is no different. This is a "Once-in-a-century type of event," says former Federal Reserve Chairman Alan Greenspan said on ABC television. "There's no question that this is in the process of outstripping anything I've seen, and it still is not resolved and it still has a way to go," he added.
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And it is not just americans, we are sharing this bills too...

[ 本帖最後由 hardcat 於 2008-9-17 13:07 編輯 ]

作者: peninsula 時間: 2008-9-17 20:55

引用:

原帖由 hardcat 於 2008-9-17 13:04 發表
The US is now a bigger communist than China, doing insurance business, apart from housing mortgage business...
---- ...

So depressing indeed!

作者: bigdeal 時間: 2008-9-18 12:35

Warren Buffett is scretching his head & ask why AiG is now trading lower than China Life. Brothers please give my some advice on my dream stock AIG as I want to buy 1000 shares how likely it will go bankrupt later on ? TIA

BTW I think today is a buy opportunity for HK stocks especially financials as I see gold retreat in asia trading & naked short selling rule is imposed again. US markets should get a relief rally tomorrow & beyond hope I'm right.

作者: b4321 時間: 2008-9-18 12:41

Don't guess for the bottom.

If u loss once, u need to win 10 times to recover. Keep as much cash as possible.

引用:

原帖由 bigdeal 於 2008-9-18 12:35 發表
Warren Buffett is scretching his head & ask why AiG is now trading lower than China Life. Brothers please give my some advice on my dream stock AIG as I want to buy 1000 shares how likely it will go b ...

[ 本帖最後由 b4321 於 2008-9-18 12:45 編輯 ]

作者: COO 時間: 2008-9-18 12:45

AIG is getting $850 billion debts at about 11.5% p.a. It is gonna have to repay the debt in 2 years. That means it has bought 2 year time at 11.5% cost per year to sell off its assets and restructure its businesses. Do u think it will have many valuable assets left and profitability can be maintained as before? Why still consider this stock?

作者: peninsula 時間: 2008-9-18 20:41

引用:

原帖由 bigdeal 於 2008-9-18 12:35 發表
Warren Buffett is scretching his head & ask why AiG is now trading lower than China Life. Brothers please give my some advice on my dream stock AIG as I want to buy 1000 shares how likely it will go b ...

Gold up $140 in 2 days and now strong at $880.

作者: peninsula 時間: 2008-9-18 20:42

引用:

原帖由 COO 於 2008-9-18 12:45 發表
AIG is getting $850 billion debts at about 11.5% p.a. It is gonna have to repay the debt in 2 years. That means it has bought 2 year time at 11.5% cost per year to sell off its assets and restructure ...

Unlikely at fire sale situation.

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