Stacy Summary: As the Oracle predicted a year ago, Dubai will no longer exist as an independent state very soon. And Abu Dhabi is not going to bail them out, they are going to buy them. And, unlike in the US, UK, Ireland, etc., where bankers have Manchurian politicians to bail them out 100 cents on the dollar if markets retreat by even 5%, well, I doubt the royal family of Abu Dhabi is going to be handing out any of the $33 trillion in wealth to some dead beat bankers.
And, here is the Oracle predicting today’s disaster:
  |
 |
![[Most Recent Quotes from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/platinum/t24_pt_en_usoz_2.gif)
first
play the clip! play the cliip!
tell the people!
I predicted this on THE ORACLE!!!!
play the clip!
You also said the £ would collaspe…in May!
Mike
Some guys on another BB where discussing what Goldman would do to cover their massive short polsition in Gold……….they said after Last Fridays “Mis-fire” they try something else.
Mike
I can see now how Peter Schiff made some bad investments for his clients – he seemed to have some moderate confidence in the gulf compared to the dollar.
check out stacy’s dance moves
(gold was at 440 when we made this)
http://www.youtube.com/watch?v=IEAb8Hbk_Q4
we have a clip of peter recommending the gulf on our Oracle show
“I can see now how Peter Schiff made some bad investments for his clients – he seemed to have some moderate confidence in the gulf compared to the dollar.”
I wonder what the excuses from our financial leaders will be:
NOBODY SAW THIS COMING!
or
WHY DID THEY NOT WARN US!
or
THIS IS MAX KEISER’S FAULT
Asian markets were down huge today; Dow down 200 in pre-market action:
http://money.cnn.com/data/premarket/
Europe seems pretty tame considering they own about 75% of Dubai’s bad debts.
@Troy Ounce –
MUST WATCH … a Veteran protester talks about his work in earlier times at a shipyard …. and Banks.
Greedy Banks have got to go !
City Life/Vida Urbana Profiled on Bill Moyers Journal (2/2)
http://www.youtube.com/watch?v=2sLhibuTO8I&feature=sub
@Stacy .. Amy Goodman
…Goodman, 52, known for her views opposing the wars in Iraq and Afghanistan, told CBC News on Thursday that Canadian border agents asked her repeatedly what subjects she would cover at scheduled speaking engagements in Vancouver and Victoria.
‘You’re saying you’re not talking about the Olympics?’
—Canadian border agent
Goodman said she told them she planned to speak about the debate over U.S. health care reform and the wars in Asia.
After much questioning, Goodman said the officials finally asked if she would be speaking about the 2010 Olympics.
…
… Goodman said her car was searched and the officials demanded to look at her notes and her computer….
Disgusting .. the Police State.
No question in my mind that 9..11 was the just another step in the Coup d’Etat.
In Crossing the Rubicon”, Ruppert mentioned that 31 of 100 Senators got A-n-thr-ax con-tam-i nation … and then they were so scared , they signed anything .. including the Patriot Act.
Am I paranoic or what ?
Dubious dubai sheiks shaken up.
@Max
adorable!
@ Max very well predicted
Before the drop last night the graph was completely flat yesterday it was really odd around 11pm….for a hour or so…
Events are speeding up along with volatility.
@ Stacey
Nice Dancing moves LOL
@Max .. Ahem .. Kaiser Max .. Yep , great call.
… I predicted this on THE ORACLE!!!! …
Listen to this @ ca. 4:30 – 6:00 minutes .. ” MORAL HAZARD ” … Banks are Disgusting .
http://www.youtube.com/watch?v=0AgdLlMYF28&feature=sub
Max busting a move
http://maxkeiser.com/2009/05/03/video-max-keisers-may-day-2009-in-paris/
To be fair, I feel great thinking the equivalent of several powerplants are going offline in Dubai shortly. What savings, all those flights!! Hellelujah!
Can you post that Buy Gold! video again, but this time can we try it with all the talking taken out? Ta.
What cracks me up about today’s Dubai crap is that everyone has known about it for so long.
We just never knew when the BigMoney guys will pull the string(s).
Just like JPM decided one evening to freeze BSC’s credit line , and stop them in their tracks.
“They” knew in advance, because “They” pull the strings.
Maybe they needed Dubai’s Gold for Crimex Options Expirey today ?
Who knows ?
PS:
There is – as Max also stated – good reason for everyone to pull their money from the banks IMO. Just buy Gold, Silver and food…. and then wait.
Hold the politicians to account and tell them we will only accept an honest banking system with Gold backing.
Until then … Barter !
US$ today .. up against most other currencies
The usual and expected effect of asset liquidation for CB US$s I suppose !
@Mother .. India / China / Gold & US-IMF
Good point !
http://www.youtube.com/watch?v=qQMx23XXOlk&feature=sub
all golden BMW’s and golden toilet seat covers being sold…
@Y’all
I’ve been called a few names in my time… had a couple of nicknames too… The only one I even half liked was ‘Mr Garlic’… please stay away from garlic… I know you lot have to spoil everything… but please, please stay away from garlic… damn… is there anything you freaks won’t try and hang a dollah sign on!!!’
I’ve been to Doha in 2007. For the Life of God i couldnt understand why people would wanna live in a place which is hot sweaty & sandy. It was like a Furnace.I’ts like from the AC Car to the AC Office to the AC Gym to the AC house.They had so much money
Buy a location on the Globe where the weather is good and start building there . Choose a place in Africa.
They i think got carried away with Las Vegas & Bugsy Seagal.
Places Like Dubai is fun to go to cause you get reminded how good you have it at home.
Just look at gold recover its like a beach ball under the swimming pool you can push it down with allot of effort but it bounces back as soon as you let go..
http://www.youtube.com/watch?v=HE5RUNGfL_w
lol
someone posted a link with heat maps for gold , silver etc a couple of weeks ago .
My hard drive crashed and I lost my bookmark can anyone remember what it was ?
Thanks
@Bonn,..RE,.Doha, Dubai,..lol,..I know what you mean,.the residents leave in the summer, to go somewhere cooler,.phew!!
@Fibon11235 – well at least now we have a resistance line (@$1195) to keep the chartists happy!
Stacy
http://www.cnbc.com/id/34162672
Mike
Dubai was simply a money laundering exercise. The found the most desperate arabs there and ran with it..
@ ME
Dubai was simply a money laundering exercise.
Nope i think it was a Ponzi scheme buy abu dabi to get Holywood and International sports stars to use thier money to build that globe and stuff time it to 80 billion dollar Real Estate Bubble crash it . 80 billion dollars aint much too when you look at Madoff
Wham
OPEC Industry people move into the Globel Islands and whatever Dubai has at a subsidy what was 3 million dollars 3 years back is probably 500,000 dollars
@Y’all
I reckon with a tiny tweak to the lyric… we could sing along and abba zaba doo… could become… OK maybe not!!!
Captain Beefheart – Abba Zaba
http://www.youtube.com/watch?v=6Nf539nkQ0w
@Mike2liverpool – good one!
When your playing with people who have trillions of Dollars and u get some hollywood star to be part of thier PR Agenda. They sure as hell know what they are doing.
By the way, on a serious note about Dubai, while all the British property speculators are abandoning their SUVs at airport and fleeing, they will no doubt be leaving behind their serf/slaves. More disgusting than the water, food or pollution in Dubai was the hideous British speculators who thought they were Lords for being to essentially own a person who had no rights. These young women from Africa and Asia were horribly abused, would have their passports taken from them and were unable to leave without an exit visa . . . now that their own ‘employers’ have fled the country, I wonder about the fate of these servants.
I have a friend who bought an appartment in Dubai . Roger Federer too had an appartment in the same complex it’s value before the buble burst was 3 million dollars now its i think less than half of that.
@Bonn
The whole Dubai operation is a laundry exercise. It is a completely artificial Shangrila shopping and airline destination. It was thought up to generate money for oil companies, airlines, concrete pouring maffia and speculative banks. You could almost characterize it as a clawback operation to extract some of the oil wealth bank from the US/World.
@Mike what XAUGBP spot price would you consider a collapse?
Personally im looking for 1k.
Unlike the US the UK is full steam ahead with the QE.
That Lloyds price figure is misleading. Lloyds are currently in the process of a rights issue. The actual loss today on them is about 2.1%.
High Gold Prices: It’s the Oil, Stupid
I’m constantly amazed at the inability of US economic and financial “expert policymakers” to understand the true reason behind gold’s big move: OIL. The inflation adjusted high for gold was set in January 1980 at $2,290 an ounce. It is not a coincidence this high was set just after the oil crisis of the 1970s. The US was lucky then: it had Paul Volcker (pictured left) at the Federal Reserve and it had the oil reserves of Alaska and the North Sea coming online. The combination of Volcker’s high interest rates and new domestic oil supplies saved the day. Unfortunately, neither of these two solutions will bail America out this time. Once again, as history repeats itself, gold prices are taking off after the 2008 oil crisis which saw oil prices of $145/barrel. Why is it so hard for the Harvard B-School “experts” and the pundits on CNBC to understand this very simple cause and effect? – Seeking Alpha
…
…
http://www.thedailybell.com/615/High-Gold-Prices-Its-the-Oil-Stupid.html
Indeed, abu dhabi, dubai, the first batch of shit to hit the fan, real business crash and dies when it f&cks up. Unlike the fallacy in the US. Reality is a bitch! (if not prepared)
@Y’all
I almost completely forgot about this… ah well better late than never!!!
William S. Burroughs – A Thanksgiving Prayer.
http://www.youtube.com/watch?v=F8m_J6sXj_0
@ Stacey
These young women from Africa and Asia were horribly abused, would have their passports taken from them and were unable to
It aint that Stacey this friend of mine says they’ve changed the rules now .So If Priviously you had a servant it was ok. Now they have made a ruling that if you are a family of 4 u need to be able to buy a 2 bedroom appartment, you cant buy a single bedroom appartment.Plus if you are bringing in a servant you have to fill a return ticket for that servant and also she has to have a room so now you have to buy a 3 bedroom appartment and the Govt. will hold the Return ticket of that servant
Its a boring Country and they treat indians like shit .I am more than happy of being treated like a first class Citezen in my own country.that’s more important to me than anything in the world.
thats 3 people.ROFL
Its a prity interesting topic but i am in no mood to search for Documents pertaining to that, cause i Doubt I will ever go to the middle East again . that Doha trip was enough for me .
Plus having helping hands in India is way cheaper
for 500 $ a month you could have a Cook, a Driver and a gardener if you had a Garden
They are in the sense Kicking out the poor and Uglies
All the Laborers and stuff who helped build Dubai
The people from India and Bangladesh all being sent back they are done with ‘em
‘Sell-off in Dubai triggers stamped into dollars and dumping of risk assets like gold.’
On the contrary, the stampede is into the Yen, and people are desperately clinging to their risk assets like copper.
Dubai may be the best place to hide for GS bankers. It’s unattractive, hard to reach, but if you have the cash anything is possible…
Max: can you tell us where did you get the 33 trillions figure?
Speaking of Default vs. Bailout my best guess is that it’s gonna be a mixed picture.
Yes Abu Dhabi has both SWF and cash-flow, but in terms of population and geopolitical might, they are a bigger Iceland with a better location and some decent banking interlocking.
Their gun is just too small and they can’t afford to predend that there is a Market whose rules ought to be respected.
@Phil:
Why does MotherEarth completely ignore the sdr-manipulations involved in that gold India swap? Is HE a stupid, sheeple, shill?
Did India take possession of the gold? How much gold is stored in their reserves now compared to sdr? Bob Chapman said they were covering a short and did not take possession.
” But that was before I learned that the Reserve Bank of India paid for their $6.7 billion dollars worth of gold with… SDRs!”
http://dailyreckoning.com/gold-over-1090-and-climbing/
Fight, fight, fight,.fight !!! : )
Dubai
IMO it’s all part of the planned take down.
Griffin referred to it in Jekyll Island …
… the pump&dump of oil and gold prices to rob the Arabs of their wealth.
Jon Perkins EHM secenario …
… American Cos. build Dubai for them , for which they enetered US$ debt.
Then the plug was pulled and Dubai is BK.
Same ol’game .
@frances .. you and your SDRs .. LOL
You keep lecturing us about it , which implies we do’t already know what’s going on.
Give us a bit more respect .. p l e a s e !
Please, guys get off the Peter Schiff bandwagon. He is being bought off as we speak by the elites, who know that he will be a Senator in the near future. Just because he predicts the obvious does not make him palatable. This guy wreaks of corruption.
@Snoot
Why don’t you ask me?
What I make of it: SDRs today are drawing rights. They are not currency. Indian rupee is not in the SDR mix so it has to pay in a combination of Yen, Euro, Dollar and Franc for the gold (or some exchange rate correcterd amount of one of these currencies). What India did was swap the IMF gold for equivalent amounts of the different currencies, which are now stuffing th coffers of the IMF.
Of course India takes delivery of the IMF gold. You can not keep gold in SDRs Gold=Gold and SDRs are SDRs, why would you be so confusing? If Chapman has a theory that is very nice, but these are my reasons he is making stuff up: 1. I have dealt with indian people about (big) money and they are no fools. 2. Physiical gold is very important in their country. 3. The govenment is distributing gold coins to the poor framers and needs gold for that. 4. India has no reason to trust the IMF.
I maintain that the US is buying an ally in Asia and China will be shubbed until it explodes.
You Bet Your Life – Dubai and Derivative Explosion
http://inpoints.blogspot.com/2009/11/you-bet-your-life-dubai-and-derivative.html
I’ve wanted to buy puts for so long, I can’t believe I missed it. Oil is down 5%
Please, guys get off the Peter Schiff bandwagon. He is being bought off as we speak by the elites
I hope thats not true,I really like him but he’s genuine i think. I really like it when he says “thats complelte nonsence” thats his trade mark i guess.
@Phil:
LOL.
If they were MY sdrs, you wouldn’t have written that.
In the link you provided the speaker indicated he thought that anyone that believes his rhetoric is “a little bit sane and not a dumb, stupid, sheeple or a shill.” I was providing a feed-back loop to Mother’s way of thinking by asking if, on the same lines, one who ignores the sdr activities of the IMF is guilty of his labeling process as well. In which case that would make MotherEarth the very thing he claims for others.
To ignore Mother’s previous label, link the video, and then claim I show no respect to you is really rather trite.
Well. Why don’t you answer my questions instead? Did India take possession of the physical gold?
@MotherEarth:
Why should I ask you anything when you marginalize my views by calling me insane, stupid, and either a shill or a sheeple?
Mother:
Show me the link for India taking possession, pleaae, or I will ignore your speculation.
You claim sovereign agency for my country in a video and claim that my country is involved in false representation of data to invoke a continued US hegemony over the world’s people. You ignore the G20 structure in place on the board of the IMF through the finance secretary sitting as governors for each respective IMF member nation. You ignore the recently ratified fourth amendment.
You ignore the very essay written by the Chinese central bank head which details what the Chinese leadership want concerning a reserve currency, the sdr, and how the Chinese would like to see the sdr expanded for trade.
Here’s the link:
http://www.bis.org/review/r090402c.pdf?noframes=1
As for respect, I think you have none for me, little for Americans, and a pitiful cupful for women in general outside those whom you parade as bouncy girls for your cause.
Cool 2006-vid, Max/Stacy!
What about the Abu Dabi buys Dubai statement? q2 2010 to see it happen?
Or will we get some Iceland-like situation? (Netherlands lent money to Iceland so they can pay back the monies lent to Dutch nationals and companies; now Iceland has to pay back that loan and will have a hard time doing so… Either be nice and in the EU or have unfriends?)
Bonn — Speaking of corruptable, Schiff will replace Chris Dodd in CT (if he gets in):
http://corruptiondatabase.com/wiki/index.php?title=Christopher_Dodd
…
Man i think i bought some fake Whysky today odd taste
LOL i attended Jonny Walkerss tasting crap at a 5 star hotel in India ,the Jonny Walker reps said they had calculated of the 600,000 litres of the Jonny Walker brand that was sold in India only 100,000 is the real stuff cause JW is and only is made in Scotland or where ever they make it Something to do with the Pete they use can only be found in that region so thats why they dont make it in the US or elsewhere
Cause I Think I am a Whisky Connasure dont no the spelling dont care Google the spelling ROFL a little pissed off cause of the fake Whisky i bought
Bonn — send some of that Johnnie Walker to Pakistan for Sy Hersh’s next visit:
“During my stay in Pakistan—my first in five years—there were undeniable signs that militancy and the influence of fundamentalist Islam had grown. In the past, military officers, politicians, and journalists routinely served Johnnie Walker Black during our talks, and drank it themselves. This time, even the most senior retired Army generals offered only juice or tea, even in their own homes.”
http://catastrophist.wordpress.com/2009/11/12/pakistan-hersh-nukes/
@ Tofu Charlie
Lol I read that earlier ,
One of me Dad’s course mates was in School with Musharaf he held a School reunion party n hes big on Whisky they had a Ball off a time
I believe Dubai played a small role in the illegal conspiracy to sack unionised waterfront workers in Australia a few years back. What comes around go’s around. Ha Ha.
@snoots…givem hell
Abu Dhabi Dubai – Special (Scroll up for more – Updated) http://tinyurl.com/y9tugat