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WIll 8-8-11 be the financial 9-11? 9 Years and 11 Months after 9-11

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posted on Aug, 5 2011 @ 08:54 PM
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I see it as almost unbelievable that on 8-8-11, 3 days short of "9" years and "11" months after 9-11-01, we find ourselves with a situation that could completely change America again.

AAA bonds and the Mutual fund requirement.
- Many Mutual funds require a AAA rating to continue in existence.
- If this does not happen, it is required per the contract to sell the Mutual Funds.
- Conclusion="A HUGE automatic sale in the stock market and emotional selling to follow"

I sincerely am concerned about what is going to happen on Monday. I wonder if people in the know heard about this happening and that is why we just had a big sell off. Any thoughts?




edit on 5-8-2011 by ProfATS because: (no reason given)




posted on Aug, 5 2011 @ 08:58 PM
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Make sure you have no personal debt and by long life tinned foods..

Today!

The effects of all this will not be felt properly for 6 months, so do what everyone else does. Sit back and chill.

Then when interest rates go up and the cost of living means 90% of people are on food stamps, you can reflect on a life you once had.



posted on Aug, 5 2011 @ 09:06 PM
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reply to post by guessing
 


Everyone that has a Mutual Fund that requires AAA credit rating will have to be sold as per the contract. I am talking about something that has never happened before. Mutual Funds are lifetime savings. This is going to be unheard of and I am sorry to think it might not take 6 months for disaster to hit fragile World Economy.



posted on Aug, 5 2011 @ 09:09 PM
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8-8-11 is also suppose to be the day that Obama has to provide his BC to the Hawaii court. Whether it's true or not.

Maybe that is suppose to keep us busy so we forget about the court date.

www.abovetopsecret.com...
edit on 5-8-2011 by Manhater because: (no reason given)



posted on Aug, 5 2011 @ 09:09 PM
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yip there is a few worried faces on the stock exchange floor this could be the big one where the # truly hits the fan .i doubt its any coincidence that its going to be 9 yrs 11 mths "they" just love synchronicity ."they" just love synchronicity .
edit on 5-8-2011 by shambles84 because: (no reason given)



posted on Aug, 5 2011 @ 09:14 PM
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I have a bit of personal debt but I always pay it off in one fell sweep, however I have to wait till September to pay off the next bill, I do believe Monday isn't going to be too good.



posted on Aug, 5 2011 @ 09:53 PM
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8/8/11 and 9 years 11 months. Never underestimate the power of numbers in these types of things.



posted on Aug, 5 2011 @ 10:14 PM
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reply to post by ProfATS
 


Alright... Can you provide a source for this AAA requirement for mutual funds? I am not having any luck finding one.

I'm a bit confused about how exactly this works... If indeed it is true. Seems like if the mutual fund does not contain any US bonds then this downgrade would not force the fund to dissolve. I'm only semi-knowledgable in this area, so that's why I'm asking.

At any rate, sounds like Monday will be a "buy" day, Tuesday a "sell" day, and so on until the oscillations damp out.



posted on Aug, 5 2011 @ 10:22 PM
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reply to post by ProfATS
 


I find it strange that you registered on 9-11-2010

EXACTLY 9 years to the date of 9/11!!!


explain yourself sir.


nevermind, it's november 9th isn't it?
bah

anyways i hope 8-8-11 will be dandy. peace

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posted on Aug, 5 2011 @ 10:41 PM
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reply to post by xenthuin
 


There is no link that will specifically tell you this. See this website that talks about the best of Bond Mutual Funds..

stockpickr.com...

It is about criteria. The criteria of some Mutual Funds state that they must be AAA. I saw this from a reporter on the news and that is when I started thinking about it. Huge sell off coming.

Yes... I joined on 11-9-10. Funny how the Europeans have the day before the month.
edit on 5-8-2011 by ProfATS because: (no reason given)



posted on Aug, 5 2011 @ 11:01 PM
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reply to post by ProfATS
 


Ok, thanks... I'm thinking I'm right. What you are talking about are BOND mutual funds, which are groups of bonds organized into a single fund. If the particular mutual fund requires AAA rating for the bonds in the fund AND contains US government bonds, then they either sell the lower rated bonds and continue as normal, or revise their requirements... I doubt they would disolve the entire fund (unless it is comprised completely of US government funds, which if so, one would ask why it was a fund at all?!)

I guess we will see though



posted on Aug, 5 2011 @ 11:14 PM
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8/5/2011, close to 8/8/2011 but then finance.yahoo.com...

Martin Crutsinger, AP Economics Writer, On Friday August 5, 2011, 11:55 pm

WASHINGTON (AP) -- The United States has lost its sterling credit rating from Standard & Poor's.

The credit rating agency on Friday lowered the nation's AAA rating for the first time since granting it in 1917. The move came less than a week after a gridlocked Congress finally agreed to spending cuts that would reduce the debt by more than $2 trillion -- a tumultuous process that contributed to convulsions in financial markets. The promised cuts were not enough to satisfy S&P.
our rating just took a dump, up goes all the other rates.
edit on 5-8-2011 by bekod because: line edit



posted on Aug, 5 2011 @ 11:16 PM
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While this is not good, for all of you who are freaking out about personal debt. Breathe.

If you have a fixed rate mortgage. It will not change.
If you have a fixed rate car loan. It will not change.

Credit cards CAN change. Even if they are fixed rate. However, they must send you notice of their intent to change the terms of the contract. If you have a large outstanding balance you opt out. Do not accept the new terms. You must notify them that you do not accept the terms. That will result in you keeping the current fixed rate on the debt already owed. You will continue to make payments on that debt but you will no longer be able to use the card.

If you have an adjustable rate mortage or credit card. Well, yeah. That is going to get more expensive. But it will likely take at least a month or two (I think more) and don't forget this is one of three agencies, and if Congress were to actually act in the next few weeks they could regrade up. So, if you have a chunk of change pay the adjustable rate card and only pay minimum on the fixed rate. Then watch the mail like a hawk. They will only notify you once. If you don't reject the terms within the specified time frame your fixed rate will go away and you will be subject to flucuating rates.

The up side is that this will push some inflation. That wont be great at first but it will lead to higher pay eventually and that will make existing debt easier to erase (especially if it is at fixed rate interest). I often suspect that they have long intended to inflate their way out of the debt.

If your credit is good and for some reason you are on an adjustable home loan: refi to fixed immediately while you still can.

Edited to add: This post should not in any way be construed as creating a binding client relationship to me in any way in any kind of business for which I may or may not be licensed to practice in one or more states or districts of the United States......this is just random, though potenitally informative, rambling of an unknown internet entity Follow advice at your own risk and with full acknowledgement that you abandon any and all recourse to blame me or seek redress for loss or perceived loss as a result of doing so.

edit on 5-8-2011 by watcher3339 because: Obligatory Disclaimer

edit on 5-8-2011 by watcher3339 because: (no reason given)



posted on Aug, 5 2011 @ 11:54 PM
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reply to post by watcher3339
 
yea right the banks will raise rates, car loans will be raised as well, do you think they get rate breaks? Oh no, for everyone will bite the bullet on this one, Student loans, car loans, housing, small biz, credit card all will be sending you a notice of raised rates 401 k savings and other types will most likely lower their rates. Just so they keep more money. and the one big one that will go up is TAX. The US will not lose the AAA rating for long.



posted on Aug, 6 2011 @ 02:42 AM
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like I posted earlier abcnews.go.com... form the link , if things were not bad enough

2. The interest rates YOU and YOUR EMPLOYER pay will go up. Basic credit facilities -- like mortgages, student loans and credit cards -- are all at least loosely tied to the rates the government pays. A half a percent increase in mortgage rates could increase the total cost of the average traditional mortgage by $19K (on a $172K home). Businesses would have to spend more money to finance expansions. Costs for borrowed money goes up, effectively raising the price of anything you're not paying for with cash.
and who has cash? it is all credit. put that on a MC/Visa, what do you have in your wallet?



posted on Aug, 6 2011 @ 05:32 PM
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reply to post by bekod
 


But the rates go up on new consumer loans. Not existing fixed rates.
Yes, the higher rates are bad for an already struggling economy.
But they don't get to raise the rate of your fixed rate mortgage.



posted on Aug, 6 2011 @ 05:57 PM
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I will say no,.
We have nothing to be worried about..
the "keep them is fear" tactic is working on you heh?
edit on 6-8-2011 by Lil Drummerboy because: (no reason given)



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