Bailout financial oligarchs, now every Tom, Dick & Saudi wants welfare

Posted on October 8, 2009 by stacyherbert| 39 Comments

Stacy Summary:   You bailout one class of oligarchs (the bankers) and every oligarch and monarch in town is coming looking for handouts!

Saudi Arabia has led a quiet campaign during these and other negotiations — demanding behind closed doors that oil-producing nations get special financial assistance if a new climate pact calls for substantial reductions in the use of fossil fuels.

That campaign comes despite an International Energy Agency report released this week showing that OPEC revenues would still increase $23 trillion between 2008 and 2030 — a fourfold increase compared to the period from 1985 to 2007 — if countries agree to significantly slash emissions and thereby cut their use of oil. That is the limit most countries agree is needed to avoid the worst impacts of climate change.

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39 Responses to Bailout financial oligarchs, now every Tom, Dick & Saudi wants welfare

  1. Rob | October 8, 2009 at 7:25 pm |

    Let them rot!

  2. dan valley | October 8, 2009 at 5:34 pm |

    Help me out here….ben bernanke is on tv now…and he says that 75% of the feds assets are in foreign treasuries…..so does this mean that if the dollar goes up they would lose????and if so doesnt this make for a conflict of interest????

  3. FreeMarkets? | October 8, 2009 at 1:16 pm |

    @ Ilya – your quite right the Sauds and other have been positioned for 100 years + , and lawrence of arabia betrayed the arab people. Got to go – Supper time!

  4. FreeMarkets? | October 8, 2009 at 1:08 pm |

    In The 1970′s the UK experienced a shortage of oil and the possbility that reserves were running out. Brazil have recently discovered huge fields which will be exploited in the next planned cycle. Not to mention the artic which holds massive reserves.

  5. Dan | October 8, 2009 at 11:53 am |

    hopefully its got more to do with the emergence of coldfusion in china and japan.

  6. klaos | October 8, 2009 at 11:28 am |

    I predict rubble-USD parity by end of February.

    1 kg of dirt’ll get you a buck :P

  7. Ilya Kuryakin | October 8, 2009 at 11:15 am |

    Sorry, I meant Yen-dollar parity.

  8. Supergeek | October 8, 2009 at 11:14 am |

    @d3d0
    me like dedo word pitchaz!!!

  9. Mongo | October 8, 2009 at 11:11 am |

    @Ilya, Now I think you are a little too bullish on dollars.. :P

  10. Ilya Kuryakin | October 8, 2009 at 11:06 am |

    I predict Ruble-USD parity by end of February.

  11. Dedo | October 8, 2009 at 10:52 am |

    PPS:,…Bit like Dante,..: )

  12. Mongo | October 8, 2009 at 10:51 am |

    december contract for gold on Nymex looks promising!

    Open interest: 352047
    Estimated volume: 173468

    http://www.nymex.com/gol_fut_csf.aspx?product=GC

    WOW! (I know.. boring expression but hey…)

  13. Dedo | October 8, 2009 at 10:48 am |

    Yeah mike,….leave off wif the racial slurs !!
    You sound like a brainwashed, regimented, sycophant,…
    : )
    PS:,…when I say sound like,..I mean when I read the words and translate it into my brain, and make up stories.

  15. WL | October 8, 2009 at 10:42 am |

    Here we go US moves to invade Canada

    http://www.invadecanada.us/

  16. Ilya Kuryakin | October 8, 2009 at 10:39 am |

    @mike
    “screw those towels heads”

    The US/UK have been screwing them…for about 100 years.

    The only reason fascist regimes like the Saudi royals even exist is because the US armed them to the teeth knowing they would oppress their own people and keep the Spice flowing.

  17. Ilya Kuryakin | October 8, 2009 at 10:35 am |

    It might be a while before you see a 50 ton solar-powered tank.

    Might take even longer for a battery operated ICBM… :)

  18. Supergeek | October 8, 2009 at 10:34 am |

    @mike
    As I said before when some fool used that phrase… “may the fleas of a thousand camels infest your armpits”

  19. Illinois Brandon | October 8, 2009 at 10:34 am |

    The aid is the Earth will be a better place to live. We as a world will be better when these people and oil lose power. I think we would have less wars.

  21. klaos | October 8, 2009 at 10:21 am |

    They got nothing to worry about, we’ll be a petroleum based civilization for another 500-1000 years.

    at the very least it’ll be a long, long time until an army using petrol can be beat by one using alternative fuels.

  22. mike | October 8, 2009 at 10:15 am |

    Many people don’t realize this but the USA gets more oil from SOUTH AMERICA then the MIDDLE EAST screw those towels heads.

    GET OUR TROOPS OUT OF THAT GOD FORSAKEN PLACE NOW!

  23. Youri Carma | October 8, 2009 at 10:10 am |

    $5,800 gold? But stocks okay, too.
    Commentary: After a good decade, Aden sisters gleeful about gold http://tinyurl.com/yav2bur

  24. M | October 8, 2009 at 10:10 am |

    How does this relate to peak-oil guys?

  25. Ilya Kuryakin | October 8, 2009 at 10:07 am |

    They got nothing to worry about, we’ll be a petroleum based civilization for another 500-1000 years.

  26. Youri Carma | October 8, 2009 at 10:05 am |

    Roubini says housing market hasn’t bottomed http://tinyurl.com/yb5b22g

  27. Youri Carma | October 8, 2009 at 10:04 am |

    Structural unemployment crisis stalking U.S. economy http://tinyurl.com/ybuy7hd

  28. The underfundedmentalist | October 8, 2009 at 10:00 am |

    This is why you shouldn’t feed the bears.

  29. TOP | October 8, 2009 at 9:59 am |

    GOLD 1,060.40 USD

  31. Phil | October 8, 2009 at 9:48 am |

    Gold ETFs, caveat emptor
    Posted by Izabella Kaminska on Oct 08 15:42.

    http://ftalphaville.ft.com/blog/2009/10/08/76621/gold-etfs-caveat-emptor/

  32. stacyherbert | October 8, 2009 at 9:40 am |

    @Richard@lattitude30N – Monaco and Nice in the same region as Doha and Dubai? Well, there are loads of sheikhs and whatnot there, but they are mostly Saudis visiting their favorite $40,000 per night prostitutes. btw, Dubai is bust and now pretty much owned by Abu Dhabi, the only rich emirate of the UAE; ‘rich’ may be an understatement . . . the only other truly rich part of that region is Qatar (Doha) . . .

  33. Richard@lattitude30N | October 8, 2009 at 9:35 am |

    @Stacy: thanx for the clarification…my daughter’s (Barclay’s Capital Bank CEO ) employer just went on a grand tour to Dubai, Doha, Monaco, and Nice and other parts in the region to IMO to solidify the bank’s position with the Arabic world( as you are well aware Barclay’s is partly owned by the UAE royal family and they are there to backstop any losses )…Yes, Yemen and the Saudi region are having a tough time…But really isn’t this a lag on the neo-con agenda of old??? Didn’t Prince Bandar attempt a coup recently and may be on house arrest??? chicken’s coming home to roost no doubt…

  34. presence | October 8, 2009 at 9:34 am |

    makes me proud to be Australian to see the the AUD dominating like a motherfucker and adding salt to the Fisk wound

    gold going mental yips 1060

  35. M | October 8, 2009 at 9:28 am |

    2000-2100

    The great inflation.

    At 2100 we will have massive climate problems as all trees will be gone.

  36. Adam C | October 8, 2009 at 9:28 am |

    ‘If nobody recognizes a defaulted debt on their balance sheet, does it exist? What does “deflation” mean in such a world? Not much, as it turns out. At least from a monetary perspective, because money is not being destroyed at nearly the rate that would be expected or predicted by the size and rate of the defaults.’

    ZH – Guest Post: The Sound Of One Hand Clapping – What Deflationists May Be Missing
    http://www.zerohedge.com/article/guest-post-sound-one-hand-clapping-what-deflationists-may-be-missing

  38. stacyherbert | October 8, 2009 at 9:12 am |

    @Richard@latitude30N – it’s the Abu Dhabi royal family . . . they reportedly control $33 trillion and are certainly not asking for handouts; the Saudis, however, have blown their wad of cash on kickbacks to their UK & US masters and now they have a hungry population of millions of young men . . .

  39. Richard@lattitude30N | October 8, 2009 at 9:09 am |

    @Stacy: no remind me …Which Arab family ( dynasty ) controls $77 trillion???? I forget…yes they are paying attention to the stupid western voting parliaments..they want a bailout too….how bizzarre…