Geithner visits Gulf Sovereign Fund Managers
Treasury Secretary Tim Geithner’s trip to sell America to the foreign investors
Have Your Say!
Translator
Polls
Loading ...
|
Copyright © 2008 - 2010 Barcarol LLC
|
Treasury Secretary Tim Geithner’s trip to sell America to the foreign investors
Have Your Say!
Loading ...
Geithner said on Tuesday at the Jeddah Chamber of Commerce that
he thinks the world has yet to fully appreciate the scale of ambition [...] we are seeing in the Kingdom [of Saudi Arabia] and the Gulf region to lay the foundation for future growth
It would appear that by saying that, Geithner was actually
praising the ambition of the Kingdom of Saudi Arabia
to break free from the dollar peg
in order to
solve the huge bad debt problem at the Saudi business groups Saad and Algosaibi.
Transparency can only be discussed behind closed doors, US of A secretary of the treasury, Timothy F. Geithner, said on Thursday.
On Tuesday at Jeddah Chamber of Commerce, Geithner said he thinks the world has yet to fully appreciate the scale of ambition we are seeing in Saudi Arabia & Gulf region to lay the foundation for future growth.
It would appear that by saying that, Geithner was actually praising ambition of Saudi Arabia to break free from dollar peg in order to solve huge bad debt problem at Saudi business groups Saad and Algosaibi.
Algosaibi now accuses Mr Maan Al-Sanea, the owner of Saad Group, in a New York court of having misappropriated approximately USD 10bn as a result of his frauds, says the Financial Times this Friday morning.
Al Sanea obtained loans using falsified documents and diverted worthless green paper, aka US dollar, received to own use.
Algosaibi accuses the dollar regime in New York of using falsified documents and perpetrating concealment, looting and thievery through the US dollar..
Developing … [smile]