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:
Tags: abu dhabi · dubai70 Comments
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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.