Sheikhs new clothes
Dubai in the 70s was a smugglers paradise, most of the big business houses were ''hand in glove'' with wanted criminals from the sub-continent.
The Iranian revolution and soviet invasion turned it into a listening post for CIA/MI5. From there on it has tried to use this infuence. The 9/11 terror gang had its money transfered from Dubai and to deflect the attention, EK ended up ordering those massive purchases, which again were fuelled with easy credit from NYC & LONDON. The credit was converted into land/property (Now dubai world), the value of which depended on continued growth. A emirate that did not manufacture anything of value had to end up this way.
I feel vindicated, as i always told my ex-collegues, its Aircrafts for Land. Now the ''EMPEROR (sheikh Mo) stands with-out- his new clothes''.
I am sure the ATMs have been freezed. Come Dec7th there will be a new decree on WITHDRAWLS.
Another bit of personal analysis, Sheikh Mo is the RISK INVESTOR IN THE A380 programme.
Last edited by jethrotull; 26th Nov 2009 at 00:46.
Reason: spelling