<Recycling petrodollars is a breeze.> The house of Saudi have been always seen protected by the US. The US is viewed, not as protecting the integrity of the country and its oil wealth, but being the hired guns to protect the house of Saudis. The house of Saudis, the governing elite, reattributed in kind, putting the proceeds of the oil wealth into the US. Now they are pulling it out. Doesn't that sound to you as worrying?
Pretty soon the biggest source of cheap oil on earth is not so comfortably within the reach of the US. The Saudis will decide that they no longer need the AWACS flying around spying on their neighbours and those US troops in their soil. US technology? With computer-based push-button technology a few Filipinos and top quality managers can go a long way today.
NOTE: No country nowadays have the monopoly of (USEFUL) technology. Useless technology is certainly in the hands of a few countries. But being them useless who needs them but a few country?
Lucent, Bechtel, Motorola and many US companies gone, there will be quite a few lining up to take their place, gladly.
Which will be good for Siemens, ABB, Airbus, Mitsubishi Heavy Industries, Ericsson, and it is a reason not so many European countries are eager to support US warmongering. Perhaps the British since they have BP and Shell.
This is the small bit. Than there is the big hit: the US companies that exploit oil in Saudi will be slowly elbowed aside.
I don't know what will happen with the investments of Al Walled who used to buy depressed stocks: Apple Computer, Eurodisney, Citicorp. Perhaps they follow Jay and buy gold?
Who loses?
Potentially the US military made useless by the end of the Cold War warmongering to keep that 'defence budget'
I don't think the Citibank would like to see this man angry:
Alsaud, Prince Alwaleed Bin Talal, age: 43, Saudi Arabia
Claim to fame: Enthusiastic and prodigious investor in mostly U.S. and European blue-chip stocks. Typically buys when stocks are down but not out. Latest moves: Took advantage of the April Nasdaq rout to pump $2 billion into a basket of tech and consumer-oriented shares. Partially funded the buying binge with a $1 billion sale of Citigroup shares. Citigroup still his largest holding, worth a recent $8.4 billion. For fun: Hangs out in the Saudi desert with his entourage and watches CNBC on a big-screen television. Takes long power walks alone in the desert.
$20 BILLION , self made
Hometown:
Riyadh
Education:
Syracuse U
Married, 2 Children* |
