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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (43128)	8/20/2002 12:19:08 PM
From: JEB	Respond to of 50167

It's more than just a threat, ...it is destiny. If they withdraw their money, they might as well withdraw their money everywhere in the US. This includes the Wahhabi (Salafi) money to the Universities and they can take back their "visiting" professors. As well as their lobby group and its money. This should diminish their influence on our political and education establishment and set back the whole Muslim movement in the US. Way to go, ...they would shoot themselves in the foot again (I'm getting used to witnessing this from them). The money is going to flow out now no matter what they say. In my opinion, that is an inevitability. If the claim in the suit is true and they have a recording of the Princes buying protection from Osama, they will lose face with their own people. Time will not be on their side. The majority of the populace is both young and poor but they have been taught strength through power and courage. Marriage is at an all time low due to loss of the dowry. The loss of integrity through the sale of their courage is damning to the crown. The populace has enough problems without adding loss of face. As I've said before, Crown Prince Abdullah has chosen the wrong path and is moving his country down it in a fast way.

To: IQBAL LATIF who wrote (43128)	8/21/2002 1:29:46 AM
From: shag007	Read Replies (1) \| Respond to of 50167

Another article on Saudis pulling out money from US. Ike, would be very interested in your ideas on this, and this post. Message 17898381 Thanks, Fern Edit: My bad, I just saw this post you made,http://www.siliconinvestor.com/readmsg.aspx?msgid=17892944 Don't know if you have anything further? Saudis withdraw billions of dollars from US By Roula Khalaf in London Published: August 20 2002 21:49 \| Last Updated: August 20 2002 21:49 Disgruntled Saudis have pulled tens of billions of dollars out of the US, signalling a deep alienation from America. One analyst said the total funds withdrawn by individual investors amount to $200bn. Other bankers put the figure nearer to $100bn. The US-Saudi alliance was put under severe strain after September 11, when 15 of the aeroplanes' 19 hijackers were Saudi nationals. Accusations that Saudi Arabia's austere brand of Islam breeds terrorism and its charities finance Osama bin Laden's al-Qaeda network have been perceived in the kingdom as attacks on Saudi society and its religion. An analyst from the Rand Corporation said at a Pentagon briefing this month that Saudi Arabia was the "kernel of evil", exacerbating concerns among the country's elite that they have become demonised in the US and their money is no longer safe there. As part of the fight against terrorism, the US and Saudi authorities have been monitoring the accounts of dozens of Saudi companies and individuals, a move that alarmed Saudi merchants. Youssef Ibrahim, a senior fellow at the Council on Foreign Relations working on a project re-examining US-Saudi relations, said Saudis had withdrawn at least $200bn from the US in recent months. He said the move has been driven by hawkish US commentators' calls for the freezing of Saudi assets. The trend, he added, can be expected to accelerate with last week's trillion-dollar lawsuit by relative of the victims of September 11. The lawsuit accuses several Saudi institutions and charities and three members of the royal family, including the defence minister, of financing terrorism. Details of Saudi investments in the US are sketchy but financial analysts believe they range between $400bn and $600bn. The funds are invested in private equity, the stock and bond markets and real estate. The figures include investments by members of the royal family. Investors are not thought to be closing down their US accounts. Instead they are moving money into European accounts. Bankers in London said the largest established Saudi investors did not yet seem to be following the trend. One said: "I'm sceptical about a mass exodus. But there was a lot of Saudi money with American banks that was not diversified, now they [the Saudis] are spreading their wings. Perhaps 30 per cent to 50 per cent of the money that was with US banks is seeking diversification." The Saudi money shifts may have contributed to the recent downward pressure on the dollar. "People no longer have any confidence in the US economy or in US foreign policy," said Bishr Bakheet, a financial consultant in Riyadh. "And if the latest lawsuit is not thrown out in court, it will mean no more Saudi money in the US." news.ft.com