The United States borrows from China to pay for oil from Saudi Arabia. The Saudis then buy up hard assets in the US on a favorable exchange rate. That’s 40% off from 2002 prices, according to Norges Bank.
http://www.israelnationalnews.com
The Abu Dhabi Investment Council of the oil-rich United Arab Emirates kingdom of Abu Dhabi last November announced it was bailing out the mammoth Citibank financial institution, formerly headed by Bank of Israel Governor Prof. Stanley Fischer, with $7.5 billion.
Next in line was Britain’s Barclay’s Bank, which raised $9 billion from investors in the oil-rich kingdom of Qatar and in Asian countries. The Abu Dhabi Investment Council last month forked out approximately $800 million for a 75 percent stake in New York City’s 1,046-foot-tall Chrysler Building, which was the world’s tallest building for a year until the Empire State Building surpassed it in the 1930’s.
The purchase of American banks by foreigners has been blocked in the past by security and political considerations, but the barriers have come down, wrote Dr. Ramady. “How long this lasts is only a matter of guesswork, as once again, the specter of foreign takeovers of ‘national’ symbols will be hard to accept,” he added.
The latest American symbol to go down the drain is the Anheuser-Busch beer brewer. The Times of London wrote, “The weak dollar and weak economy mean the United States is up for sale. Japs are conquering the car industry. Arabs just bought part of the Chrysler Building. Jeez, they even tried to buy the ports a while back. Whatever next? A hijab on the Statue of Liberty?”
Loretta Napoleoni may have it right when she states that “In the end. . . a new Islamic monetary system will emerge and that the dinar, pegged to the price of gold, will become the reserve currency of the world.”
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