DUBAI CRISIS, Beemoe and others

Hi Beemoe,

What do you think about the current crisis in dubai ?
for example -the calabrian ndrangheta almost in every financial crisis along history manged to sent lot of money to the crisis area..if it's :east europe,argentina,usa etc' ...i think in this point of time lot of billions of the calabrese are doing their way to dubai-buying state bonds, tons of real estate,set up companies,filling bank accounts and even maybe trying to get some % in big banks and financial companies.

what do you think about this?

thanks,

X

I think it will be a bad investment. When the oil is gone, what does Dubai have to offer? It is like Vegas. A beautiful town in the middle of the desert which costs billions to cool and water. Money goes down the drain. But that is my opinion and I am no financial wizard lol I'm interested what Beemoe thinks.

Hi david

This is the best way to launder money , when a state is in hard financial situation They will not ask lot of questions about where is the money coming from (in dubai i think in standart situation they even don't ask a lot) because they need lot of cash and fast and this is situation that the ndrangheta for example are waiting...they don't really care (in most of the cases) about if the investment will be profitble..they just want to launder their endless cash river and than they are buying state bonds ,massive real estate and all the other things i wrote above.
true that dubai don't have a lot of oil now , but the real estate prices gone down 50% !!! and from this point it's should go up over the years , the banks need money, big financial and real estate companies need money and the state needs money and they will have money by selling state bonds...it is money laundering paradise.
my opinion..also waiting to hear beemoe opinion.

X

Look what the UAE is doing, there building four nuclear power plants.
I wonder what else there planning to build?

http://news.bbc.co.uk/2/hi/asia-pacific/8431904.stm