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| Arabia |
| Saudi Princes’ Petrodollars are Packin’ Up and Movin’ |
| 2004-06-03 |
| From Geostrategy-Direct, subscription req’d..... Western investors and companies are doing it. Now, Saudi princes are taking their money out of the kingdom amid the Al Qaida campaign against the royal family. We’re outa here! First fiscally, then physically... Saudi Arabia’s de facto ruler Crown Prince Abdullah addresses dignitaries May 29, in this video grab taken from television. He vowed to crush militants out to harm the economy of the oil-rich kingdom after an attack on the oil city of Khobar killed several Saudis and foreigners. Day late and a dollar short... Much of the money is moving to Europe. But a considerable portion is heading for Islamic allies of Riyad, such as Bahrain, the United Arab Emirates and Pakistan. The Saudi investment in Pakistan has strategic implications. In 2003, Pakistan completed an agreement for nuclear cooperation and enhanced strategic relations. The relationship would be funded by Saudi oil for Pakistani military and nuclear technology. Fund the Paks while the Saudi Ship of State sinks. Now, the Saudis have decided that Pakistan could serve as the future for their petrodollars. Saudi investors are examining the prospect of sinking $1 billion into Pakistan, including into its defense industry. Hilal Hussein Al Tuwairqi, chairman of the Al Tuwairqi Group, signed a memorandum of understanding on May 29 in Islamabad to establish a steel plant in Karachi estimated at $100 million. Tuwairqi said that Pakistan was the safest place for investment and soon would become an exporting market. A jihad exporting market. Western intelligence sources have also spotted the flight of Saudi companies and investment from the kingdom to the UAE port of Dubai. Like Pakistan, Dubai knows how to accept investments without questions or regulations. Welcome! Welcome! Sit right down here, your excellencies! May I help you with your briefcase? Ten years ago, much of those investments would have gone to the United States. But today, Saudi princes are fighting for their lives against Al Qaida and a huge groundswell of Islamic opposition in the kingdom. It’s every man for himself. If things get dicey, the US could freeze funds. |
| Posted by:Alaska Paul |
| #1 Wait a minute, they're putting more money into Europe? Which countries? I posted an article here recently that they were pulling out of Europe cos they lost quite a bit of money, the Euro isn't ready for prime time and tho they hated to admit it, $ is king. |
| Posted by: Anonymous2U 2004-06-04 12:27:18 AM |