Infinite Unknown

One hundred riyal notes at a bank in Riyadh, the Saudi Arabian capital. The US has asked four oil-rich Gulf states for close to US$300 billion to help it curb the global financial meltdown, Kuwait’s daily Al-Seyassah has reported.
(AFP/File/Hassan Ammar)

KUWAIT CITY (AFP) - The United States has asked four oil-rich Gulf states for close to 300 billion dollars to help it curb the global financial meltdown, Kuwait’s daily Al-Seyassah reported Thursday.

Quoting “highly informed” sources, the daily said Washington has asked Saudi Arabia for 120 billion dollars, the United Arab Emirates for 70 billion dollars, Qatar for 60 billion dollars and was seeking 40 billion dollars from Kuwait.

Al-Seyassah said Washington sought the amount as “financial aid” to face the fallout of the financial crisis and help prevent its economy from sliding into a painful recession.

The daily said the United States plans to use the funds to help the ailing automobile industry , banks and other companies suffering from the global financial turmoil.

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Tags: Banks, Economy, financial crisis, Government, Kuwait, Meltdown, OPEC, Politics, Qatar, Saudi Arabia, U.S.

An undated handout photo, provided to the media on Thursday, Nov. 20, 2008, shows the Sirius Star Saudi oil supertanker. Source: U.S. Navy via Bloomberg News

Nov. 20 (Bloomberg) — Somali pirates are demanding $25 million in ransom to release an oil-laden Saudi supertanker seized off the East African coast, and called on the ship’s owners to pay up “soon.”

“What we want for this ship is only $25 million because we always charge according to the quality of the ship and the value of the product,” a man who identified himself as Abdi Salan, a member of the hijacking gang, said in a telephone interview from Harardhare. The town is in Somalia’s semi-autonomous northern Puntland region close to where the ship is anchored. He didn’t give a deadline or say what would happen if the money isn’t paid.

The Sirius Star, which belongs to Saudi Arabia’s state-owned shipping line, Vela International Marine Ltd, and its crew of 25 were seized about 420 nautical miles (833 kilometers) off Somalia on Nov. 15. It is carrying more than 2 million barrels of crude valued at about $110 million. Very Large Crude Carriers cost about $148 million new.

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Tags: crime, Economy, hijackers, Oil, Pirates, Ransom, Saudi Arabia, Society, Somalia

The Saudi-owned crude oil supertanker “Sirius Star” is seen in Rotterdam on October 17, 2008. REUTERS/Adri Schouten

DUBAI (Reuters) - Somali pirates have captured a fully laden Saudi supertanker far off east Africa, seizing the biggest vessel ever hijacked with a cargo of oil worth over $100 million in an attack that pushed world crude prices higher.

The U.S. Fifth Fleet said the Sirius Star was being taken to the pirate haven of Eyl, in northern Somalia, on Monday.

The hijacking of the Saudi Aramco-owned vessel on Sunday is certain to add to pressure for concerted international action to tackle the growing threat posed by pirates from anarchic Somalia to one of the world’s busiest shipping routes.

“This is unprecedented. It’s the largest ship that we’ve seen pirated,” said Lt Nathan Christensen, a spokesman for the Fifth Fleet. “It’s three times the size of an aircraft carrier.”

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Tags: Economy, Oil, Pirates, Saudi Arabia

There has been an unprecedented surge in Saudi gold purchases in the past two weeks with over $3.5 billion being spent on the yellow metal, reported Gulf News citing local industry sources.

Gold market expert Sami Al Mohna told the leading regional newspaper that this buying had substantially increased the gold reserves of the country: ‘Many Saudi investors see this as the right time for making investments in gold as the price is the most reasonable one at present’.

He said gold was seen as a traditional safe haven at a time of global financial turmoil. Gulf regional stock markets have fallen very sharply since early October, leading to an exodus of cash which needs to find a safe haven.

Gold is currently trading at prices similar to a year ago, and 30 per cent off its March peak. Saudi investors clearly think this is the right time to buy and are piling into gold.

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Tags: Economy, Gold, Saudi Arabia

As stocks slid Sunday in Kuwait, a group of investors showed up at the Seif Palace, where they were met by the police, and tried to demand government intervention. (Gustavo Ferrari/AP)

The global economic crisis extended its reach into the Gulf states Sunday, as Kuwait suspended trading in shares of a major bank and the Saudi authorities announced a plan to help citizens receive credit.

The Central Bank of Kuwait halted trading in Gulf Bank, one of the country’s largest lenders, after a customer defaulted on a derivatives contract. The central bank said it would “strongly support the bank’s financial position” and protect depositors, to assure the public that Gulf Bank’s business “will not be affected.”

The central bank also said it was moving toward guaranteeing deposits at local banks. Many other countries have already taken that step, putting lenders in countries with no guarantee at a disadvantage.

In Saudi Arabia, always sensitive to potential unrest, King Abdullah said that 10 billion riyals, or $2.7 billion, would be placed in an account in the Saudi Bank of Credit & Saving to enable the bank to help hundreds of thousands of citizens get loans for family needs including marriages and home repairs.

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Tags: Economy, financial crisis, Government, Kuwait, Middle East, Oil, Oil Prices, Politics, Saudi Arabia

Vladimir Putin (left), then the president of Russia, met with Muammar Qaddafi, the Libyan leader, in April to discuss arms, energy and debt. AFP

Employing strategies redolent of a new Great Game, Russia has stepped up its diplomatic and trade activities in the Middle East and North Africa in a bid to enhance its geopolitical clout and gain access to, and at least partial control over, the region’s oil and gas reserves.

Among the former global superpower’s tactics: linking arms deals and debt-forgiveness to energy deals.

The strategy has been most apparent in former client states of the ­Soviet Union including Libya, Iraq and Syria, although by no means limited to such countries. Moreover, Moscow has not shied away from courting the authoritarian regimes of countries such as Iran, Syria and Libya that are or have been shunned by the US and other western governments.

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Tags: Abu Dhabi, Algeria, Commodities, Gas, Gazprom, Government, Iran, Iraq, Libya, Middle East, Muammar Qaddafi, Oil, Politics, Russia, Saudi Arabia, Syria, Vladimir Putin

Many people deny that the U.S. government presides over a global empire. If you speak of U.S. imperialism, they will fancy that you must be a decrepit Marxist-Leninist who has recently awakened after spending decades in a coma. Yet the facts cannot be denied, however much people’s ideology may predispose them to distort or obfuscate those facts.

How can a government that maintains more than 800 military facilities in more than 140 different foreign countries be anything other than an imperial power? The hundreds of thousands of troops who operate those bases and conduct operations from them, not to mention the approximately 125,000 sailors and Marines aboard the U.S. warships that cruise the oceans, are not going door to door selling Girl Scout cookies. United States of America is the name; intimidation is the game.

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Tags: Afghanistan, AIPAC, Al-Qaeda, Al-Qaida, Asia, CENTCOM, China, Congress, Dick Cheney, Government, India, Iraq, Middle East, Military, Pakistan, Russia, Saudi Arabia, Taliban, terrorism, terrorists, U.S., war on terror, William Fallon

MOSCOW - Saudi Arabia has offered to buy Russian arms worth 2.4 billion dollars (1.5 billion euros) if Moscow stops supporting Iran, a Russian newspaper reported Tuesday, citing diplomatic sources.

“The kingdom’s government advised Moscow to cease its cooperation with Tehran, and in exchange it held out the prospect of profitable contracts with Saudi Arabia,” the daily business newspaper Kommersant wrote.

The report came one day after Russian Prime Minister Vladimir Putin met with the General Secretary of Saudi Arabia’s Security Council, Prince Bandar bin Sultan.

Citing sources in Russia’s defence industry, the newspaper said Saudi Arabia was ready to buy at least 100 BMP-3 combat vehicles, 150 T-90 tanks and 160 Mi-17, Mi-26 and Mi-35 helicopters.

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Tags: Economy, Iran, Politics, Russia, Saudi Arabia, U.S., Vladimir Putin

Iranian President Mahmoud Ahmadinejad, far left, sits with officers during a military parade last year.

By Scott Ritter: Former chief weapons inspector for the United Nations Special Commission in Iraq

There can no longer be any doubt about the consequences of any U.S. and/or Israeli military action against Iran. Armchair warriors, pundits and blustering politicians alike have been advocating a pre-emptive military strike against Iran for the purpose of neutralizing its nuclear-related infrastructure, as well as retarding Iran’s ability to train and equip “terrorist” forces on Iranian soil before dispatching them to Iraq or parts unknown. Some, including me, have warned of the folly of such action, and now Iran itself has demonstrated why an attack would be insane.

Related articles:
- President George W Bush backs Israeli plan for strike on Iran
- Iran does not intend to wipe out Israel, says Ahmadinejad
- Ron Paul: Iranians Tested Missiles AFTER Israel had WAR GAMES

I’ve always pointed out that no plan survives initial contact with the enemy, and furthermore one can never forget that, in war, the enemy gets to vote. On the issue of an American and/or Israeli attack on Iran, the Iranian military has demonstrated exactly how it would cast its vote. Iran recently fired off medium- and long-range missiles and rockets, in a clear demonstration of capability and intent. Shipping through the Strait of Hormuz, regional oil production capability and U.S. military concentrations, along with Israeli cities, would all be subjected to an Iranian military response if Iran was attacked.

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Tags: AIPAC, Bush administration, Congress, George Bush, Hezbollah, Iran, Iraq, Israel, Mahmoud Ahmadinejad, Middle East, Military, Oil, Oil Prices, Pentagon, Saudi Arabia, U.N., U.S.

(The economy is falling apart, the former middle class is living in their cars, the U.S. are broke but….

The US Congress has approved a 170 million dollar increase in security assistance to Israel as part of its new 10-year, 30 billion dollar defense aid commitment to the Jewish state.

The money for Israel was part of a larger supplemental spending bill that included 162 billion dollars for the wars in Iraq and Afghanistan. The legislation gained final approval in a 92-6 Senate vote late Thursday.

America’s pro-Israel lobby, the American Israel Public Affairs Committee, welcomed the congressional action, saying it would increase US aid to Israel to 2.55 billion dollars in fiscal year 2009, up from 2.38 billion dollars this year.

“The US commitment to maintaining Israel’s qualitative military edge is the cornerstone of American policy in the region,” AIPAC said in a statement Friday.

…and this is how Israel will spend the money:

- Israel flexes muscles with Iran attack drill

- Israel launches ‘Iran Command’ for war

- A human rights crime in Gaza By Jimmy Carter

- Israeli siege leads to soaring anemia in Gaza newborns

- Israel Causes UN Food Aid Relief For Gaza to Halt

- U.N. chief condemns Israel after Gaza clash

…What should be done? Michael Scheuer, Former Head of the CIA Bin Laden Unit:

- ISRAEL is NOT WORTH A SINGLE AMERICAN LIFE OR DOLLAR

- The Infinite Unknown)

“This year’s package holds heightened significance for US security interests, as the US and Israel face new challenges from Iran’s drive to acquire nuclear weapons as well as the growing influence of radical anti-western forces to Israel’s south in Gaza and to the north in Lebanon.”

The package was unveiled by Secretary of State Condoleezza Rice on July 30 as part of a new military pact with US allies in the Middle East in a bid to “counter the negative influences” of militant groups Al-Qaeda and Hezbollah as well as arch enemies Iran and Syria.

The aid includes a 20 billion dollar weapons package for Saudi Arabia, a 13 billion dollar package for Egypt, and reportedly arms deals worth at least 20 billion dollars for other Gulf states.

The military aid to Israel reflected an increase in value of more than 25 percent, Israel Prime Minister Ehud Olmert has said, describing the package as a considerable improvement and very important element for national security. Continue reading »

Tags: Afghanistan, AIPAC, Al-Qaeda, Al-Qaida, Condoleezza Rice, Congress, Egypt, Ehud Olmert, Hezbollah, Iran, Iraq, Israel, Middle East, Military, Saudi Arabia, Syria, U.S.