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With $62 Billion In Overseas Deposits By Libyan Residents, How Long Before The MENA Depositor Run

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Tue, 03/01/2011 - 10:50 | 1006835 HoofHearted
HoofHearted's picture

How many Libyans read ZH? That will tell you who is ahead of the curve and who will be withdrawing fiat to trade it for something useful...gold, silver, guns, ammo, food, etc.

Tue, 03/01/2011 - 11:16 | 1006925 velobabe
velobabe's picture

who farted, don't forget hookers and hoes†

Tue, 03/01/2011 - 11:22 | 1006959 caconhma
caconhma's picture

How stupid can one be by keeping money in American banks?

America always was/is an outlaw respecting neither domestic nor international laws.

But of course, we have the Constitution. But excuse me, who gives a shit about it?

Finally, the latest Obama & Clinton diplomacy will definitely kill US$ as the reserve currency. China rulers, are you listening?


Now, it is perfectly clear why gold always was and will be "the store of value". Fortunately, you cannot eat it.

Tue, 03/01/2011 - 10:50 | 1006836 netnil
netnil's picture

check with Mr Drysdale, unscrupulous banker to the Beverly Hillbillies

Tue, 03/01/2011 - 11:01 | 1006872 sabra1
sabra1's picture

pussycat pussycat where have you went, down to the commerce, for 5%!

Tue, 03/01/2011 - 10:54 | 1006850 Pants McPants
Pants McPants's picture

Prudent citizens will immediately convert intangible assets into tangible assets.  You can bet the political "leaders" have already done so - Egypt was the test case.

Tue, 03/01/2011 - 10:56 | 1006854 luk427
luk427's picture

And Gold is only up $14.

Tue, 03/01/2011 - 11:43 | 1007066 gmrpeabody
gmrpeabody's picture

+1  go figure...

Tue, 03/01/2011 - 10:56 | 1006857 TooBearish
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Tue, 03/01/2011 - 11:01 | 1006873 Oh regional Indian
Oh regional Indian's picture

Banking black hole, singularity moment is also approaching. 

I think this time the run will be global, quickly. All thsi globalization/black money/tax haven has created a mess of both accountability and deliverability. 

Lots of hiders are going to have their hides handed to them

it's happening in India with revelations from the swiss.



Tue, 03/01/2011 - 11:03 | 1006880 falak pema
falak pema's picture

They have very rich camels in Libya. Only explanation. Every camel will get 600 000 USD from their sovereign fund. Guaranteed by the TBTF banks who hold their accounts. Who wants to marry a libyan camel? Only criteria is : Female, less than 30, blond with blue eyes. No objection to being member of harem. Marrying white caucasian female  allows camel to keep his hard earned share. Or else it gets snapped up eventually by western Banksters/politicians. It's a win-win deal all round. Only possible in the next week before fund collapses under camel stampede/ Bankster rip-off. All candidates must contact ZH to be sure of bona fide treatment. Repeat, do not contact Lloyd Blankfein. Under no circumstances.

Tue, 03/01/2011 - 11:06 | 1006894 gwar5
gwar5's picture

Muammar has it stashed all over the place. The longer he fights the more time he has to loot. Mubarack did the same thing. They all do.

Muammar won't make it but if his sons get to Venezuela with gold they can try a comeback down the line like the Shah's kids. One of his boys is a London School of Economics grad. They didn't say what his GPA was. 

Tue, 03/01/2011 - 12:29 | 1007264 YHC-FTSE
YHC-FTSE's picture

Heard today that LSE students are demanding the college to revoke his "Stolen" PhD. Haven't read Saif's thesis so can't comment on his academic work, but we all know that the LSE was promised around £1.5m from the GICDF (The Gaddafi International Charity and Development Foundation). 

Tue, 03/01/2011 - 11:13 | 1006913 americanspirit
americanspirit's picture

Think of all those Colombians and others who are holding so many physical FRNs. What to do, what to do?

Tue, 03/01/2011 - 11:39 | 1007043 WyMi
WyMi's picture

Why stop at Libyan accounts. Isn't it open season on muslims/arabs/unionists/taxpayers. The invisible hand is grasping. I just hope it will be used constructively in inflating something to bubblous proportions. Something that God would be proud of.

Tue, 03/01/2011 - 11:45 | 1007070 walküre
walküre's picture

told ya so.

Tue, 03/01/2011 - 11:58 | 1007119 Fíréan
Fíréan's picture

To give a perspective  as of last year Libyan institutions held 7.6% of UniCredit  shares, Italy's largest bank. Also are large holder of Italain government bonds. Libyan institutions hold shares in many major world companies. This is not just a matter of citizens and their cash in the bank.

Tue, 03/01/2011 - 15:09 | 1008131 disabledvet
disabledvet's picture

and there's your answer.

Tue, 03/01/2011 - 13:01 | 1007385 michigan independant
michigan independant's picture

The term derives from the Latin fiat, meaning "let it be done",

"And now that Libya's seized assets are in the no man's land of international judicial limbo."

Well lets hope water, wheat and intrinsic value appeals now. Intrinsic value is an ethical and philosophic property. CD can expound the finer points. The Baker and Blacksmith have very short confrontations.  


Tue, 03/01/2011 - 12:54 | 1007390 PulauHantu29
PulauHantu29's picture

Is that why I read people over there are buying kilogram bars of solid gold?

Tue, 03/01/2011 - 12:53 | 1007391 PulauHantu29
PulauHantu29's picture

Is that why I read people over there are buying kilogram bars of solid gold?

Tue, 03/01/2011 - 15:11 | 1008141 disabledvet
disabledvet's picture

Goodbye Italy.  Hello France apparently.  I have no idea what "we the Americans" will do.  We're crazy.  We are of course "over there" as well.  Who knew a sandbox could be worth so much?

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