Saudi Billionaires Look to Move Funds to Escape Asset Freeze

[Litwin]

DOES IT MEAN that States- gas stations begin to collapsing one after another ? Venezuela, Putin´s Muscovy , Nigeria, Algeria, KSA, etc.? which one goes down the first? my guess Muscovy, too BAD climate , sanctions, 2 wars , etc. ...

"Wealthy Saudis are moving assets out of the region to avoid the risk of getting caught up in what authorities call a crackdown on corruption, according to six people with knowledge of the matter.

Some Saudi billionaires and millionaires are selling investments in neighboring Gulf Cooperation Council countries and turning them into cash or liquid holdings overseas, the people said. They spoke on condition of anonymity because of the sensitivity of the matter. In Saudi Arabia, some are in talks with banks and asset managers to move money outside the country, the people said."


https://www.bloomberg.com/news/artic...e-asset-freeze





PS
"John McCain: "Russia" is a 'gas station masquerading as a country'"
"John McCain: "Russia" is a 'gas station masquerading as a country'"
"John McCain: "Russia" is a 'gas station masquerading as a country'"

 

[g5000]

Crown prince Mohammad bin Salman is attempting to transform Saudi Arabia from an oil-based economy into an industrial economy. The Saudis should have begun that process decades ago.

But...oil under the bridge at this point.

Salman has moved against clerics and princes who he thinks might resist this transformation. Some have been pre-emptively rounded up and arrested.

Not only is Salman changing the economic dynamic, he is changing the social dynamic. He is trying to move Saudi Arabia into the modern age. One example being that he allows women to drive.

He is risking civil war by pissing off the Wahhabists. Iran is certainly pleased with the internal strife.

But who knows. Maybe he'll pull it off.

I mentioned quite some time ago on this forum that the oil producers lost $120 trillion in wealth when oil dropped to $30 a barrel.

Despite their best efforts, Saudi Arabia and Russia have not been able to get the oil price to return to the good old days. And so now Saudi Arabia is forced to rewire their entire economy.

Fingers crossed!

 

[Litwin]

Crown prince Mohammad bin Salman is attempting to transform Saudi Arabia from an oil-based economy into an industrial economy. The Saudis should have begun that process decades ago.

But...oil under the bridge at this point.

Salman has moved against clerics and princes who he thinks might resist this transformation. Some have been pre-emptively rounded up and arrested.

Not only is Salman changing the economic dynamic, he is changing the social dynamic. He is trying to move Saudi Arabia into the modern age. One example being that he allows women to drive.

He is risking civil war by pissing off the Wahhabists. Iran is certainly pleased with the internal strife.

But who knows. Maybe he'll pull it off.

I mentioned quite some time ago on this forum that the oil producers lost $120 trillion in wealth when oil dropped to $30 a barrel.

Despite their best efforts, Saudi Arabia and Russia have not been able to get the oil price to return to the good old days. And so now Saudi Arabia is forced to rewire their entire economy.

Fingers crossed!

do you agree that Muscovy is even in the worst situation ?