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A cataclysmic financial storm is bringing down the U.S. economy
by Michael Webster: Investigative Reporter Aug 19, 2008 at 12:01 PM PDT
A cataclysmic financial storm is threatening to bring down the United States economy
as inflated oil prices meet the largest mortgage crisis in American history. For American
citizens high oil prices alone have eroded disposable income through record gasoline, diesel and heating oil prices, increased food prices, skyrocketing other utilities as well
as housing deflation that has helped create record home foreclosures.
According to Bill Wilson, KIN Senior Analyst said “This phenomenon is a growing threat to the national security and sovereignty of the US. The hundreds of billions of dollars caught up as windfall profit for Arab Islamic oil barons is soon to be used to buy distressed and foreclosed property from the very Americans that the run up in oil has exploited.”
Sovereign wealth funds have made headlines over the last couple of years as the sinking American green back dollar and surging crude prices have enabled foreigners to snatch up symbolic American assets at depressed U.S. prices.
The Kuwaitis just recently saved financial giant Citigroup. Abu Dhabi bought the American landmark Chrysler building. The Washington Post has revealed that an unidentified sovereign wealth fund is shopping for thousands of foreclosed homes.
So just who are these sovereign wealth funds? How rich are they? The Coumcil on Foreign Relations offers the following known list. But here’s the bottom line: In aggregate, the top ten funds have $2.6 trillion to invest.
TOP TEN SOVEREIGN WEALTH FUNDS
1. The United Arab Emirates — $875 billion. Over $1,000,000 per UAE citizen.
2. Singapore* — $490 billion, $105,000 per citizen.
3. Norway — $341 billion, $80,000 per citizen.
4. Saudi Arabia — $300 billion, $10,869 per citizen.
5. Kuwait — $250 billion, $75,000 per citizen.
6. China — $200 billion, $150 per citizen.
7. Libya — $50 billion, $8,000 per citizen.
8. Algeria — $43 billion, $1,200 per citizen.
9. Qatar — $40 billion, $30,599 per citizen.
10. U.S. (Alaska) — $38 billion, $55,000 per citizen.
*The two Singapore funds are combined with the Alaska fund.
Already as Islamic colonization of the US continue to escalate as cash rich Arab sovereign wealth funds begin buying up American real estate. For example, the Financial Times reported on August 6 that the CEO of the $875 billion Abu Dhabi sovereign wealth fund sees the situation in America as a “defining moment” for investment in US real estate. The New York Post reports that another Arab sovereign wealth fund, armed
with some $29 billion, has hired consultants and brokers to search out single and multi-family homes and homes that are already under foreclosure. The Abu Dhabi sovereign wealth fund, which until this writing remained anonymous has already launched its strategy to buy up America.
Not only is the purchase of American real estate by Islamists a threat to national security, but also the possible imposition of Islamic Sharia law on those Americans who would rent, lease, or use the services of Islamic owned real estate or credit. In March, the U.S. Treasury Department scrambled to secure agreements with Islamic nations over their bid to take huge ownership positions in America’s largest financial
institutions. The agreements sought to allay concerns over Islamic nations using their financial muscle to impose Sharia law over U.S.-owned businesses and properties.
According to: http://www.watch.org, Islam is taking root in America, and we are about to willingly sell our inheritance, to overseas investors, our cheap real estate, cheap dollars, cheap companies and cheap merchandise are great bargains for the picking, and these investors are not wasting any time gobbling up these assets. Their families are now shopping on the Rodeo Drive’s of our country while we all shop at K-Mart and Target when we can afford it.
While it is true that we need foreign investors to keep the U.S. economy going and help to keep it healthy. But when American iconic companies, including our biggest financial institutions along with our U.S. citizen’s valuable real estate start changing hands outside of our own borders its time for us to rally and take a deep breath and insist our government step in and stop this financial hemorrhaging of America. Where will this all lead us? No one knows for sure but it can’t be good. But according to many of our politicians we don’t have much choice here — as Senator Charles E. Schumer (Democrat of New York) has expressed about major Wall Street banks that have been offering up their shares for sale: “Given the situation that these institutions find themselves in and the fact that there’s a pretty strong credit squeeze, there are only two choices: Have foreign companies invest in these firms or have massive layoffs.”
Welcome to the demise of America!
Michael Webster is a world-renowned expert on global economics, financing, emergency management, preparedness and illicit drugs and terrorism. For more of his writings go to www.lagunajournal.com
About the Author:
America’s leading authority on Venture Capital/Equity Funding. A trustee on some of the nations largest trade Union funds. A noted Author, Lecturer, Educator, Emergency Manager, Counter-Terrorist, War on Drugs and War on Terrorist Specialist, Business Consultant, Newspaper Publisher. Radio News caster. Labor Law generalist, Teamster Union Business Agent, General Organizer, Union Rank and File Member Grievances Representative, NLRB Union Representative, Union Contract Negotiator, Workers Compensation Appeals Board Hearing Representative. Investigative Reporter for print, electronic and on-line News Agencies.
Article Source: ArticlesBase.com – The Demise of America
China raises prices of refined oil, electricity
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