Knew this threat was coming. Also FYI Saudi is running large accounts deficit right now, so some repatriation is also going to occur because of that. On the other hand I doubt Saudi princes are parking their money in the magic kingdom. More likely they are sending to Europe.
1 posted on
08/19/2002 3:31:29 PM PDT by
Ranger
To: Ranger
I read a coupla months ago that Arab money was already flowing out of the US...
5 posted on
08/19/2002 3:44:45 PM PDT by
Guillermo
To: Ranger
Our government should freeze their funds until the case is settled
6 posted on
08/19/2002 3:47:21 PM PDT by
babygene
To: Ranger
Let them take their money and go home with it (perhaps it will do a world of good for the people of Saudi Arabia instead of the kleptocracy that runs that country for the benefit of a very, very few). Sometimes you have to stand on principle, the consequences be damned.
8 posted on
08/19/2002 3:52:00 PM PDT by
laconic
To: Ranger
Well, if the U.S. is freezing the assets of terrorists, the answer is fairly simple.
To: Ranger; lawgirl; buffyt; Patriot7; Publius; Alamo-Girl
This kind of stupid threat to flee with their assets is also the solid basis for a motion by the plaintiff's attorneys for a pre-lien attachment.
All I can say is, Go Get 'Em Plaintiff's Bar!!!!
To: Ranger
They better withdraw their investments right away before they are frozen.
To: Ranger
This is BIG money. Here comes more smokescreen as the elitists running this stock market con game try to pin the next big downturn on the Saudis. Trying to rouse the public into a war, while covering their sorry behinds.
17 posted on
08/19/2002 5:00:42 PM PDT by
Osinski
To: Ranger
18 posted on
08/19/2002 5:09:41 PM PDT by
backhoe
To: Ranger
This ain't gonna happen.
20 posted on
08/19/2002 5:14:58 PM PDT by
Dog Gone
To: Ranger
Saudi investors have threatened to withdraw some of the $750bn (£487bn; 766bn euros) they have invested in the US after families of 11 September victims filed a lawsuit against Saudi banks and charities for damages.
Let them. They're bluffing: They don't have any other place to invest.
23 posted on
08/19/2002 5:29:58 PM PDT by
Bush2000
To: Ranger
Dr Abd-al-Rahman al-Zamil, chairman of Al-Zamil Group, has urged Saudi investors to repatriate their funds to the kingdom, Saudi newspaper Arab News reported. This would be the equivalent of leaving your Beemer in the south Bronx with the keys in it. These guys know that it is just a matter of time before they are ousted and when they are any money in the kingdom is gone. The US has always propped up these fat bastards and that looks to be changing.
To: Ranger
Money chases the best investments. If they indeed have this type of money invested in the US, and they all pull it out, then there'll be a short term spike down. But then European hedge funds and investors will see that US assets are comparatively underpriced, and they'll shift more of their assets in to the US. Especially if the Saudis shift their money to Europe.
The Saudis need to put their money somewhere. There's nothing in their own country to invest in. And if they decide to build more highways, water desalinization plants, mosques, skyscrapers, or government buildings, then they'll take their money back to Saudi Arabia, and promptly spend that money. Since there are no companies in Saudi Arabia, they'll have to hire foreign, mainly American, companies.
There are a few local companies, all staffed with foreigners, so if they hire those companies, most of the money will leave SA anyway.
In conclusion, the money is going to end up here, somehow. There's nothing to buy in SA except sand and oil, and after a certain point, you don't need oil anymore.
29 posted on
08/19/2002 6:04:34 PM PDT by
Koblenz
To: Ranger
We could sieze all Saudi bank accounts, realestate investments etc., too. All your money now belong to US.
To: Ranger
Well, we may have to be at war with them as well if they choose the wrong side.
34 posted on
08/19/2002 7:39:34 PM PDT by
A CA Guy
To: Ranger
how about we counter-threaten to buy NONE of their oil?
To: Ranger
It accused three senior Saudi princes - including Defence Minister Prince Sultan, the kingdom's third highest official - several Saudi and other foreign banks, and Sudan's government of funding Osama bin Laden. The lawsuit alleges Saudi money has "for years been funnelled to encourage radical anti-Americanism as well as to fund the al Qaeda terrorists".
I don't think he has a case -- prove me wrong Ron Motley.
To: Ranger
The House of Saud is the diseased whore that gave birth to and sustains radical/militant Islam... The treacherous two faced lying bitch has earned our hatred, and deserves to feel the wrath of a brutal American vengence.
Semper Fi
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