Dubai...The end?

[viking]

Well here we go... Dubai's financials woes finally on the mainstream...who's next??

This was forecast a long time ago by various people...all part of the plan!!

Could this be the final push toward financial meltdown and the dollar...

Dubai World's hesitancy to pay off its debt sparks a selloff in Asia.

NEW YORK (CNNMoney.com) -- U.S. stocks were set to open lower Friday, following sharp declines in Asian markets, as Dubai World and its debt woes threatened Wall Street's confidence.

Dow Jones industrial average, Nasdaq and S&P 500 futures plummeted, with Dow futures down 222 points, hinting that stocks could take a dive during their abbreviated session on Black Friday.

further reading
http://money.cnn.com/2009/11/25/mark...iday/index.htm

viking

[Neo]

yeah this is smelling like the final nail in the coffin

[Northern Boy]

Looks like Lindsey was right they wanted the Arab nations bankrupt so they could take over the Oil and gas rights in exchange for more Loans . This is for cooperating Arab nations the others that don`t want to play the game get invaded and proclaimed bad guys

[viking]

Thanks Northern...

Thats the chap I was thinking of....couldn't remember his name...

Looks like its all going according to plan then!!

Next move I suppose the Dollar??

viking

[Steve_A]

Hi Northern Boy,

Dubai doesn't have any oil, it is built on a series of man made islands and is basically a millionaires' condo.

There are two main private businesses that are wanting these debts to be suspended for a few months.

Although this does not involve the local government as such, it does tend to bring the value of the properties down and this could lead to a domino effect on the other private construction companies out there and make the place less attractive for other millionaires to invest.

I imagine there will be more Mercedes left in the airport car parks soon. Once the dust settles, i could be a good start up place for a new strain of millionaire to buy up something 'cheap'.

Best regards,

Steve

Originally Posted by Northern Boy

Looks like Lindsey was right they wanted the Arab nations bankrupt so they could take over the Oil and gas rights in exchange for more Loans . This is for cooperating Arab nations the others that don`t want to play the game get invaded and proclaimed bad guys

[artvision]

Originally Posted by Northern Boy

Looks like Lindsey was right they wanted the Arab nations bankrupt so they could take over the Oil and gas rights in exchange for more Loans . This is for cooperating Arab nations the others that don`t want to play the game get invaded and proclaimed bad guys

Yes, NB, Lindsey Williams was right, even many won't want to accept it, even some from this forum this call his stinkin' thinkin'

http://projectavalon.net/forum/showt...ndsey+williams

But I can confirm, that the arabic GCC rich countries has been lured to invest their money in high yield financial instruments, which were, very risky, of course. They lost, such, more than half of their wealth. Ad to this concoctions dreams of grandeur as the Dubai ruling elite had (just remember the palm shape islands they constructed and so) and you will have the explosive mix.

Of course, now the international elite, will put the blame of dollar sinking, on the Dubai crash and all the people will repeat this like parrots. You will see this. What I mean to say, is that TPTB, will try to shift the blame, towards the islamic countries, same as they did with the war on terror, as the thinking way already formatted in the peoples mind. Why doing that? because they starting to be afraid by the people reaction: each day the people demanding banks audit, FED audit, what's happened with the TARP/Bailout money, etc. They are cornered in some way, so they thought the crashing of oil countries to be associated with the dollar decline, in the people's mind. What do you think?

[eleni]

Wow.

[artvision]

Originally Posted by Steve_A

Hi Northern Boy,

Dubai doesn't have any oil, it is built on a series of man made islands and is basically a millionaires' condo.

There are two main private businesses that are wanting these debts to be suspended for a few months.

Although this does not involve the local government as such, it does tend to bring the value of the properties down and this could lead to a domino effect on the other private construction companies out there and make the place less attractive for other millionaires to invest.

I imagine there will be more Mercedes left in the airport car parks soon. Once the dust settles, i could be a good start up place for a new strain of millionaire to buy up something 'cheap'.

Best regards,

Steve

I can confirm the things said by Steve_A, they literally left all the unfinished buildings after the fall of 2008, thousands of workers from Sri Lanka, Pakistan, Philippines, were sent to home. The parking lot of the airport was full of abandoned cars, (but not Mercedes! Is not their like brand) because there is a law in the Emirate, that if you do not pay your debt, you will be jailed, so as people cannot pay their cars and apartments, trying to avoid jail, they flee away. This is a sad story, indeed, for persons who know how awesome is Dubai, (though personally I prefer Abu Dhabi, which is more quiet) What I believe, is that they were played and pushed into this by trickery. I hope that the oil revenue Emirate, that of Abu Dhabi will help out the commercial and tourism hub, that is Dubai - an unique city in the world.