Financial Analysis

Dubai’s Trail Of Dud Deals Shows Sovereign Wealth Gone Awry - By Jonathan Keehner and Serena Saitto (15/9/09)

Jonathan Keehner and Serena Saitto
Tuesday, 15 September 2009 09:37
Bloomberg Dubai investment firm Istithmar World may be the first sovereign wealth fund to liquidate after a $27 billion spending spree financed largely with borrowed money, people briefed on the matter said. Unlike government-controlled funds in Kuwait and Abu Dhabi, flush with cash from oil production, or in China, backed by export earnings, Istithmar fueled purchases such as the takeover of Barneys New York by borrowing as much as 90 percent of the money, the people said. Istithmar’s parent, Dubai World, tapped Middle Eastern and European banks including Barclays Plc, Royal Bank of Scotland Group Plc and Deutsche Bank AG, leaving those three with combined debt holdings of at least $1.5 billion, the people said.
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Cheap Dollars Are Sowing The Seeds Of The Next World Crisis - By Liam Halligan (15/9/09)

Liam Halligan
Tuesday, 15 September 2009 09:31
The Telegraph, UK After years of selling cheap goods to debt-fuelled Western consumers, China now has $2 trillion dollars of foreign exchange reserves. That's 2,000 billion – a reserve haul no less 25 times bigger than that of the UK. In a world of systemic instability, reserves mean power. Reserves mean you can defend your currency, stabilise your banking system and boost your economy without resorting to yet more borrowing – or, worse still, the printing press.
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Gold Is Now Underwritten By China - By Egon von Greyerz (14/9/09)

Egon von Greyerz
Monday, 14 September 2009 09:29
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Fiat Money: How Else You Gonna Kill 600,000 Americans? - By Robert P. Murphy (14/9/09)

Robert P. Murphy
Monday, 14 September 2009 09:26
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Farewell America (11/9/09)

Farewell America
Friday, 11 September 2009 08:30
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More Articles...

Another Wave Of Foreclosures Looms - Ballooning Payments Put Mortgages At Risk, Posing New Setback To Market - By Dina ElBoghdady (11/9/09)
Floating Derivatives In Uncertain Waters Increases Risk Of Drowning - By Bob Chapman (11/9/09)
A Year After Financial Crisis, The Consumer Economy Is Dead - By Kevin G. Hall (10/9/09)
Can A Central Bank Go Broke? - By David Howden (9/9/09)

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