Posted on 02/12/2011 6:15:05 PM PST by SunkenCiv
Switzerland has announced that it was freezing assets owned there by Hosni Mubarak , former president of Egypt, the media reported today.
The announcement, which gave no details as to what assets Mubarak or his family might have in Swiss banks, will send shock waves through the presidential palaces of other Middle Eastern countries, according to a report in The Daily Telegraph newspaper.
"The government wants to avoid any risk of misappropriation of state-owned Egyptian assets," a statement by the foreign ministry of Switzerland stated.
Stories of Mubarak's personal wealth, ranging up to wild estimates of USD 70 billion (44 billion pounds), long suppressed by state media, have been circulating among the crowds of protesters, the report said.
His family is said to own property around the world, including in London, Paris, Dubai, and the United States, and he is understood to have money in bank accounts in Britain, the US, and France as well as other Western countries.
82-year-old Mubarak, who ruled Egypt with an iron hand for over three decades, stepped down as President yesterday and handed over power to the army capitulating under mass protests sweeping the country's streets for the last 18 days.
(Excerpt) Read more at economictimes.indiatimes.com ...
Bee in the bonnet ping.
Pretty soon the Swiss will no longer have a banking industry.
I bet it sent some shock waves through the Washington elites too.
I wonder if Indonesia will freeze MuBarack’s assets someday.
I suspect the money was spread far and wide through corruption from the presidential palace all the way down to the street.
According to one of our former intell people that was on with Beck yesterday, a lot of the high ranking military people own companies that got plenty of government contracts.
And the entertainment industry, and their good friends the Mob.
WTF’s next? Dragging Mubarak in front of some UN-ridden “international court of justice”?
It’s not the liabilities, it’s the assets which are important. That’s why they held on so long to all those gold fillings from gassed Jews.
Smart.
I’m sure Barry and Soros will see that their pals the MuBros get the loot.
This means the Saudis and others will be looking for other banking havens. Lots of money will be flying out of Switzerland soon.
No kidding. Where have all the TARP funds really gone?
I am afraid we are going to have to cancel out the dollar as the old dollar, and then create a new dollar just to wipe out the fraud from the politicians who stole us blind the last few years.
I don’t want a world currency. It needs to be an American currency. Maybe call it the Liberty or the Washington or Franklin.
“Lots of money will be flying out of Switzerland soon.”
No question. They have to have realized this; these are not novice bankers.
My guess is the Swiss gov’t is behind this, strongarmed by the one and only BHO in Washington.
“It’s all about the money, boys!” The Swiss wouldn’t have done this if the transitional regime (yeah, that made me laugh too) hadn’t requested it.
Probably that explains the King’s heart attack. ;’)
There is no honor among thieves.
I’m gonna guess the ATM cards of The North Koreans and Iranians and Libyans and Haitian and Indonesian despots and ex Saddam Hussen regime fascists will still work just fine, though
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