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.

Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (357702)	4/5/2010 9:15:52 AM
From: goldworldnet	Respond to of 793903

I'll go a bit further and say we should have written their constitution as we did with Japan. * * *

To: LindyBill who wrote (357702)	4/5/2010 10:53:24 AM
From: Elroy	Respond to of 793903

The ME will be the same as before when their oil is depleted. The only place that has handled oil wealth right is Alaska. I don't want to sound like too much of a cheerleader for them because I'm not, but let me point out something that the UAE (and Norway) have done right with regarding their oil wealth. Both have huge ($300billion-$600billion) sovereign wealth funds built out of their oil wealth. This money isn't in US treasuries (like Chinese surplus). It's in global equities mainly, then global bonds, then a small bit in stuff like commodities, infrastructure, property. The UAE only has about a million citizens. So if they stop pumping oil today, they can perhaps make 5% per annum off their fund. 5% of $500 billion is $25 billion per year. That's not a bad budget for a million people. I doubt they'd be smart enough (or concerned enough about their citizens) to do that if say oil was made obsolete tomorrow, but it's a nice pot to have put away for a rainy day.