Posted on 08/07/2005 1:43:41 PM PDT by dila813
RIYADH, Saudi Arabia, Aug. 7 (UPI) -- Saudi Arabia said Sunday it was working to bring back to the kingdom a total of $360 billion invested abroad in the last 18 months.
Foreign Minister Prince Saud al-Faisal told reporters the government was working on returning these "national assets" back to the oil-rich Arab country and to attract foreign investments in Saudi Arabia.
He said the kingdom has "established qualified institutions for that purpose," but did not elaborate.
The minister added that the "smooth way" in which power was handed over to new King Abdullah bin Abdul Aziz after King Fahd's death last week meant a continuation of stability.
"We hope these measures taken on the economic front will return the Saudi funds," Prince Saud said.
Any ideas what is up?
Al Queada running low on cash?
Maybe they are afraid that it may get frozen.
It's a warning.
Remember "Rollover?"
Sounds like the smooth tranfer of wer had a little bill attached ....
Well, this ought to be good for another 20 cents a gallon raise this week...
I'll put my money on Bandar. I suspect he returned to assume a significant role in the new government. If was being trashed, he would have stayed in New York.
I suspect the money was stashed by King Fahad as insurance and the new guys don't think it is neeeded.
They may have their own stashes and can bring this money home to put it to work. They wouldn't embarass Fahad by doing it while he was alive.
Bandar for next king.....
Can you/anyone, imagine how loudly, and for how long this so-called "Royal Family" has been laughing at the USA, the West in general, and its leaders, over the decades since the Old king ran those "hashemite scum" up to Jordan?????
I do. Chris Christopherson. Scary.
The Saudis are just asking to be taken over. We can't allow these ragheads to jerk us around. They couldn't stop us.
that much money removed from the market would cause....what kind of damage economically, globally, and/or to the US, Europe, or Japan?
yeah, a crisis of confidense. The folks in Saudi Arabia are afraid of what is around the bend and also afraid of insecure investments in Saudi Arabia.
You know tat eventually without the U.S. there propping up the "royal" ripoff family eventually the people and the crazies are going to overthrow and torture all the Saud family for many years of priviledge and abuse.
If I had a penny to invest I sure as hell wouldn't invest it in the "kingdom".
Don't know, but its a lot of money.
If I was going to surprise the west with a cutoff of oil I sure would pull all my investments so I didn't loose it. It would be the ultimate insider trading.
Maybe they don't have as much oil as what they have been saying all these years.
Yeah. Incoming.
Not much to Japan in any case, since there is relatively little foreign money invested there.
the saudis are rolling in cash from $62 oil, not sure what this is about.
unless they know the kingdom is going to fall, and they are setting up the escape accounts for the royal family.
Sounds like Prince Saud is fixing to buy himself some allies in Wahhabi circles so he can keep his head attached to his dumb ass.
Expect far worse waves of terrorism out of Saudi Arabia soon. It won't be a coincidence.
Dajjal is coming.
Ad-Dajjal or Degghial is, in Islamic eschatology, an evil figure who will appear some time before Yaum al-Qiyamah (the Last Day). The word is Arabic for "the deceiver."
Heck, that fits every Islamist out there.
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