Shock: Dubai Can't Pay Its Money Back
Submitted by Michael Nystrom on Thu, 11/26/2009 - 01:55
in
A shock maybe, but not a surprise.
LONDON — The government of Dubai, in a blunt acknowledgment of the severity of its financial position, said on Wednesday that it had asked its banks for a six-month stay on its schedule of debt repayments.
The terse statement came in the middle of negotiations between creditors and Dubai World, the corporate arm of Dubai, which has led many of its most ambitious real estate projects, but is now struggling under the burden of $59 billion in liabilities.
Toys
This is what happens when having "toys"is more important
than anything else in life.
"All religions, arts and sciences are branches of the same tree. All these aspirations are directed toward ennobling man's life, lifting it from the sphere of mere physical existence and leading the individual towards freedom."
Albert Einstein
Don't worry the
Rothchilds are going in and make things better. (sarcasm)
bump
bump
Let's take our country back by securing the blessings of Liberty and Freedom for Our Posterity
Cant that just do what the
Cant that just do what the US does, print money?
If the debt was in their own currency, yes.
But if they owe mostly dollars and Euros, its not so easy.
"I believe the true significance of the Gold Commission is that the politicians and central bankers were so alarmed at such a thing that they made sure it was packed by an array of Keynesians and monetarists." (Ron Paul 1985)
"Yep, fiat money is a wonderful thing DrKrbyLuv, whether debt-based or fresh off the press without debt...you are going to love all that fiat money when it is cheaper to wipe your ass with a 100 Dollar Bill than to buy toilet paper." -Republicae.
Lindsey right again
Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other. — John Adams
There can be only one permanent revolution - a moral one: The regeneration of the inner man. — Tolstoy
Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other. — John Adams
There can be only one permanent revolution - a moral one: The regeneration of the inner man. — Tolstoy
Today with light volume was a perfect day for the PPT.
I would be surprised if they had something to do with Dubui announcing this while the US market was on holiday, no proof just seems suspicious.
First hour of trading, the market was in free fall.
What stopped this carnage? I wonder.
Check out the first hour of trading on graph on this shortened trading day. If they had a full day, the PPT could have recovered most of these loses. The power of the printing press is still real.
http://www.bloomberg.com/?b=0
I agree
especially with light volume.
59 billion is nothing to
59 billion is nothing to uncle sam.. they will bail them out.. it will be secret but they will do something.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
Lindsey Right Again?
Yeah, he has a hokey style when he speaks, with that dramatic "suspense" in his style of delivery. Still, I do think he gets some solid information which is usually (though not always) accurate.
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
I do too... Lindsey is
I do too... Lindsey is right.. some on here bash hims and call him an old koot etc, beut everything he has talked about except the mccain thing has happened.. now 4 weeks ago he came out and the elite told him you have 2 years or less to prepare...
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
The best
The best disinformation/counter-intelligence is 95% right.
Commercial real-estate is in trouble to certain degrees everywhere and many predictions are it'll be the next 'sub-prime' crises.
I'm not bashing Lindsey, but next to someone else who makes a lot of great predictions like RP, he seems to be less authentic - I'm not sure where his real agendas lay. Therefore, personally, I'll take note of what he's saying but I don't buy into him at all.
Peace.
Yeah, I was thinking of the McCain thing.
I have to assume the source misinterpreted McCain's obvious early anointment as the GOP's Designated Loser to mean that he was the favorite for the ultimate prize.
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
what I
don't get is: The elite can't be so stupid not to know that Lindsey forwards all information he gets from them.
So:
1) They use Lindsey as a tool, so that we'll all believe his predictions because they give him right information for some time. And when we need correct information the most, they'll feed him wrong information to fool us all.
2) They don't care.
3) ???
"Doing nothing is almost always an option and is very often the best option." Daniel Hannan
"Doing nothing is almost always an option and is very often the best option." Daniel Hannan
I assume it's one guy giving him information.
And not everyone on the inside, I would imagine, necessarily likes what they're involved in.
Whatever the reason, Lindsey is accurate enough to be worth listening to.
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
Can someone start a
thread on him, where we collect and evaluate all his predictions?
"Doing nothing is almost always an option and is very often the best option." Daniel Hannan
"Doing nothing is almost always an option and is very often the best option." Daniel Hannan
That would be interesting.
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels
Does Goldman Sachs Have Dubai CDSs?
If they do, get ready for TARP 2. You can bet that the counter party risks of this could be huge on many bank balance sheets. Rest assured they are currently marked at full face value. This is the first shot of the commercial real estate collapse.
Did you see GOLD? Sold off hard but then recovered most of the decline. This is more evidence of decoupling of the dollar and gold.
Stromberg, California
Stromberg, California
I think
gold will decouple eventually. But I've seen other people that claim the latest moves of gold were proof, that there was no fundamental case for gold, it was only a huge bubble, gold was no safe heaven and so on. I guess I'll have to leave them to their own mistakes.
"Doing nothing is almost always an option and is very often the best option." Daniel Hannan
"Doing nothing is almost always an option and is very often the best option." Daniel Hannan
good summary article on the Dubai situation...
and how it may impact the gold sector going forward, given that it has performed so well but is unique from all other asset classes because many people still view gold as real money: Gold Price Dives to $1,138 on Dubai Default
Dubai default threat rattles world stocks
Dubai default threat rattles world stocks
~~~~~~~~~~~~~~~~~~~~~~~~
"Let them protest all they want, as long as they pay their taxes.” ...credited to Al Haig, Ronald Reagan's Secretary of State.
http://groups.yahoo.com/group/liberty_outlook/
http://www.dailypaul.com/blog/11
Ron Paul = Red Pill
Just like Saddam, the middle east is being made an
example and taught a lesson. Saddam started trading oil in currencies competing with the dollar. He eventually learned the lesson and paid the price.
I saw the Maria Bartiromo interview with the middle eastern executives who started their own central bank. She asked them 'What about the FED'?, they shrugged their heads, said the FED would always be there but they saw no problem with starting their own central bank. NO PROBLEM????
They were warned as well! - The lesson is - You don't mess with the rackett or you pay the price! I'm guessing they have gotten the message by now and fully understand the meaning of "consequences"!
The dark side of Dubai
http://www.independent.co.uk/opinion/commentators/johann-har...
Brutal article
I always wondered how Dubi ran its game with out the vast oil reserves of others in that area, i guess not we know.
a slave scam game, well its always the old tricks that work best I guess eh?
“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” Plato
“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” Plato
this sounds familiar...
"Most companies are owned by the government, so they oppose human rights laws because it will reduce their profit margins. It's in their interests that the workers are slaves."
O Captain! My Captain! Rise up and hear the bells!
O Captain! My Captain! Rise up and hear the bells!
what a surprise...
http://www.dailymail.co.uk/news/article-550548/Mile-high-tow...
I'll give this one to Lindsey Williams
He called it when he said oil was going way down. As the poster below noted, lots of new buildings, some very odd, all for the international bankers. I'm starting to think the pyramids were built not by slaves, but by traders of worthless paper.
hehe
I was thinking about him, too. He should start a brokerage firm.
"Doing nothing is almost always an option and is very often the best option." Daniel Hannan
"Doing nothing is almost always an option and is very often the best option." Daniel Hannan
Yeah
I thought about our friend Lindsey as I was reading this article.
Amazing, not really
They were throwing so much money around. It had to happen sooner or later. They have some really cool buildings though, but extremely expensive.
With all the snow here in Minnesota, the only 'shovel ready' project I know of is shoveling snow.
Maybe they should
Implode some of those really cool buildings ,and sell the scrap metal in order to pay off some debt.
When
there is no more demand for those buildings. We might as well crash some air planes into them, just to test if such buildings really fall at free fall speed in this case and to put an end to the 911 debate.
"Doing nothing is almost always an option and is very often the best option." Daniel Hannan
"Doing nothing is almost always an option and is very often the best option." Daniel Hannan
Good one dude!
!