Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Smart_Money who wrote (56113)	4/24/2002 11:45:57 PM
From: t2	Read Replies (1) \| Respond to of 99280

the Egyptians and the Arabs alike, individuals and governments to transfer a large sum of Arab assets to the European banks and if it is possible to withdraw the sums, at least not to transfer new assets to the American banks and to direct all Arab purchases to countries other than the US so as the American economy will suffer the price of the USA's "blind bias" to Israel. Actually there is another way to look at this. With the US policy of freezing assets of any group that has terrorists ties at all, it may be creating financial concerns for wealthy Arab individuals that have large US deposits. Any kind of suspicion on whether funds can find their way to terrorist groups can lead to frozen bank assets by the government. There is no question that Palestinian groups in particular are supported almost 100% by the Arab world while the US considers many of the same groups as terrorist organizations. So my guess is that it is primarily financial concerns instead of an attempt to punish the US for supporting Israel. Just think about it. If there is an Arab with large deposits in US banks, it automatically draws attention....at the very least to examine whether any funds are getting to "charitable organizations" that might give some money to fund terrorism. Therefore, the risk of keeping assets in US is just too high...at least that is how these individuals probably see it. In a flash, millions of dollars can be frozen by the government on suspicion...so why take a risk of keeping cash in the US is the obvious question for them. jmho