Thread: new financial storm for September coming from Dubai and Saud

06/01/2009 19:03

DUBAI

Signs of a new financial storm for September coming from Dubai and Saudi Arabia

by Maurizio d'Orlando

Dubai calls on the Rothschild bank for help, perhaps out of desperation. In Saudi Arabia a Saad Group company defaults. US, European and Asian banks are struggling. The end of Ramadan in September might mark the start of an economic depression worse than that of the 1930s.

Milan (AsiaNews) – Rothschild’s Dubai office has been retained by Dubai’s Department of Finance for advice on the US$ 10 billion financial support fund (FSF) the emirate raised on the bond markets.
Nakheel, the property development arm of Dubai World, was the first to benefit, but is likely to be the last of its kind because funds will be handed out on the basis of two criteria: urgency and strategic importance.

In fact government-related corporations deemed essential for the long-term development of Dubai’s economy will be eligible for FSFs. They include firms involved in infrastructure, transportation (ex. the Metro and Maktoum airport projects), aviation, ports, shipping and tourism. Banking might be included and the Rothschild guidelines might be flexible with regard to real estate.

This said Rothschild is not getting directly involved but will act through commercial banks in which it has equity or has connections with, like JP Morgan and other ones. Moreover, through the same commercial banks, Rothschild has a say, and a powerful one, over the Federal Reserve Bank of New York (FRBNY).

By law the latter plays a key role in the Federal Open Market Committee (FOMC) and thus has a crucial role in making key decisions about interest rates and the US money supply.

Through the FRBNY Rothschild is in a privileged position to influence US monetary policy and shaping US monetary supply, crucially important since the US dollar remains the main reserve currency in the world.

Dubai’s choice is also part of a ongoing dispute between the Saudis and the Emirates over the location of the single central bank of the Gulf States and what direction to give it.

The United Arab Emirates (UAE), especially Abu Dhabi, has recently put the breaks on the whole thing, and on the short run no solution seems to be in sight.

The Saudis are considered too close to the United States and thus indirectly to Israel. Gulf States, especially the UAE, favour a Euro-Asian axis that runs from China to Russia that includes Germany, a relationship best illustrated by Opel’s sale to the Austro-Canadian Magna group, which stands in for the Russian state bank Sberbank.

The Rothschild family has have been closely associated with the Zionist Movement. The 1917 Balfour Declaration was in fact addressed to Lord Rothschild in which the British government committed itself to the establishment in Palestine of a national home for the Jewish people.

By choosing this banking group, Dubai is distancing itself from the other emirates, perhaps out of desperation.

But the Saudis too are facing their own serious problems. The Saad Group, which is linked to The International Banking Corp (TIBC) and the Ahmad Hamad Algosaibi & Brothers Co, is in difficulty.

Saudi Arabia’s central bank has frozen all the accounts of Saad chairman, Saudi billionaire Maan al-Sanea, who owns 2.97 per cent of the HSBC Holdings Plc, Europe’s largest bank based in London.

Once known by its full name of Hong Kong & Shangai Banking Corp., HSBC Holdings Plc is also one of Asia’s main banks.

The decision by Saudi Arabia’s central bank comes after an Algosaibi-owned company defaulted on a billion dollar debt.

Maan al-Sanea’s Saad Investment Co. had also received a US$ 2.82 billion loan from a group of 26 European, US, Asian and Arab banks in 2007.

Such troubles might be a sign of more bad things to come for the banks, especially those in Europe and to a lesser extent in Asia.

Conversely, although US banks were hit by the subprime credit crisis in real estate, they are not that involved in emerging markets and eastern Europe.

As in the spring of 2008 when the first signs of the coming September financial storm were visible, today’s signs, albeit not front page news, might herald another major storm this fall.

But this year’s crisis could be worse than last year’s because of the multiple points of origin. In addition to the weak situation of the US Federal Reserve, whose financial commitments in support of the US banking system are equal to the total US GDP, European banks could go in tilt because of their exposure to emerging markets whilst those of Asia (especially Japan’s and China’s) could suffer because of Asian economies’ heavy reliance on now declining exports.

As for Dubai real estate values in the city-emirate have dropped by 50 per cent since before the crisis[i]; insolvencies here and across the Gulf region are rising.

At the same time two contradictory trends appear to be coming together. On the one hand, we see that “creata ex nihiloâ€

We can thank the Rothschilds and the Illuminati for the problems of the world. They hold the purse strings and are the puppet masters.

The Bankers Manifesto of 1892
2005 07 02

Revealed by US Congressman Charles A. Lindbergh, Sr. from Minnesota before the US Congress sometime during his term of office between the years of 1907 and 1917 to warn the citizens.

"We (the bankers) must proceed with caution and guard every move made, for the lower order of people are already showing signs of restless commotion. Prudence will therefore show a policy of apparently yielding to the popular will until our plans are so far consummated that we can declare our designs without fear of any organized resistance. The Farmers Alliance and Knights of Labor organizations in the United States should be carefully watched by our trusted men, and we must take immediate steps to control these organizations in our interest or disrupt them.

At the coming Omaha Convention to be held July 4th (1892), our men must attend and direct its movement, or else there will be set on foot such antagonism to our designs as may require force to overcome. This at the present time would be premature. We are not yet ready for such a crisis. Capital must protect itself in every possible manner through combination ( conspiracy) and legislation.

The courts must be called to our aid, debts must be collected, bonds and mortgages foreclosed as rapidly as possible.

When through the process of the law, the common people have lost their homes, they will be more tractable and easily governed through the influence of the strong arm of the government applied to a central power of imperial wealth under the control of the leading financiers. People without homes will not quarrel with their leaders.

History repeats itself in regular cycles. This truth is well known among our principal men who are engaged in forming an imperialism of the world. While they are doing this, the people must be kept in a state of political antagonism.

The question of tariff reform must be urged through the organization known as the Democratic Party, and the question of protection with the reciprocity must be forced to view through the Republican Party.

By thus dividing voters, we can get them to expand their energies in fighting over questions of no importance to us, except as teachers to the common herd. Thus, by discrete action, we can secure all that has been so generously planned and successfully accomplished."

Revealed by Congressman Charles A. Lindbergh, Sr. to the U.S. Congress sometime between 1907 and 1917.

THE BANKERS’ MANIFESTO OF 1934

Capital must protect itself in every way, through combination and through legislation. Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law, the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of wealth, under control of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an IMPERIALISM of capital to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd. Thus by discrete action we can secure for ourselves what has been generally planned and successfully accomplished.
http://www.redicecreations.com/specialr ... festo.html

For more information on the Illumanatti and the Rothschilds:
http://www.redicecreations.com/specialr ... hield.html